Gold prices rose in local markets during Thursday's trading, with the ounce also increasing in global markets after hitting its lowest level in two weeks on Wednesday due to the strength of the dollar and rising U.S. bond yields. Markets are now awaiting U.S. inflation data to be released on Friday for clues on the Federal Reserve's stance on interest rates.
Saeed Imbaby, executive director of the “iSagha” platform for gold and jewelry online trading, said that gold prices witnessed an increase by EGP 10 in the local markets during today’s trading, as a gram of 21 karat gold recorded EGP 3150, while an ounce rose to $2314.
He added that a gram of 24-karat gold recorded EGP 3600, a gram of 18-karat gold recorded about EGP 2700, a gram of 14-karat gold recorded about EGP 2100 and a pound of gold recorded about EGP 25200.
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