Gold prices jumped by EGP 12 in local markets today, Wednesday, after the rise of gold ounce price in global exchange, recording $ 1791.
The fall of the US dollar and concerns over the rise of inflation rates are the main reasons for increasing the prices.
The General Secretary of the Gold Division at the Chamber of Commerce in Cairo Osama El Galla said that 21-karat reached EGP 782.
He added that 24-karat recorded EGP 894, while 18-karat recorded EGP 670, and finally, the gold ounces was estimated at EGP 6256.
EL Galla concluded by expecting that gold prices may see more increase during the upcoming period in the light of the US inflation rates’ rise.
Contributed by: Rana Atef