Gold prices in the global exchange rose 1.6%, or $33, during trading in the week ending Friday evening, supported by a decline in the dollar, after it recorded its lowest levels in nearly five months.
This came after data showed a slowdown in annual inflation in the United States in November last year, which strengthened expectations for the US Federal Reserve to cut interest rates in March.
Saeed Imbaby, executive director of the “iSagha” platform for gold and jewelry online trading, said that gold prices witnessed an increased by EGP 15 in the local markets during today’s trading, as a gram of 21 karat gold recorded EGP 3045.
He added that a gram of 24 karat gold recorded EGP 3480, a gram of 18 karat gold recorded about EGP 2610, a gram of 14 karat gold recorded about EGP 2030, and a pound of gold recorded about EGP 24360.
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