Gold prices rose by 8 pounds per gram in the local market during today's trading, while the ounce’s price rose on the global stock exchange.
Despite these gains, gold remains near its lowest levels within nine months, due to the strengthening of the dollar and the increase in US Treasury bond yields.
Eid Youssef, head of the gold pision at the Chamber of Commerce in Minofya Governorate, said that gold prices are witnessing rises in the global and local markets, as 21- karat rose by 8 pounds in the local market during today's trading, while an ounce stabilized at the level of $1737.
He added that the 24 –karat recorded 878 pounds, and the 18- karat recorded 658 pounds, and the gold pound recorded 6144 pounds.
He expected gold prices to rise as a result of investors' orientation to gold, with high inflation rates, due to the stimulus packages estimated at $1.9 billion, approved by the US Senate.
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