On Wednesday, gold prices dropped by EGP 40 in local markets after the fall of ounces performance globally, recording $ 1840.
The main reasons for the prices decline are the interest rates of US bonds increase and the record-breaking performance of the US dollar.
Sied Embabi, the executive director of I Sagha platform, said that gold prices declined in the domestic markets today, and 21-karat was estimated at EGP 1175.
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Embabi added that 24-karat reached EGP 1343, while 18-karat reached EGP 1007.
Finally, the gold pound was sold at EGP 9400.
Contributed by Rana Atef
