Gold prices in the local markets rose during Thursday's trading, supported by the rise of the ounce on the global stock exchange, reaching their highest levels ever, due to the decline of the dollar, with increasing expectations that the US Federal Reserve will cut interest rates about 3 times during the current year.
Saeed Imbaby, executive director of the “iSagha” platform for gold and jewelry online trading, said that gold prices witnessed an increase by EGP 50 in the local markets during today’s trading, as a gram of 21 karat gold recorded EGP 3100, while an ounce rose to $2222.
He added that a gram of 24-karat gold recorded EGP 3543, a gram of 18-karat gold recorded about EGP 2657, a gram of 14-karat gold recorded about EGP 2067 and a pound of gold recorded about EGP 24800.
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