Gold prices rose significantly in the Egyptian market during Thursday trading to gain about EGP 10 per gram, compared to Wednesday’s prices.
The secretary of the gold division at the Federation of Egyptian Chambers of Commerce (FEDCOC) Nady Naguib said that gold rose during the day about EGP 10 after the yellow metal soared on the international stock market.
Naguib said that the 21 karat gold scored EGP 654 per gram compared to EGP 644 a day earlier, while the 18 karats reached EGP 552 and the 24K about EGP 733.
He added that the 8g golden coin recorded EGP 5150.
Globally, gold prices rose on Thursday as the yellow metal gained around $12 after the Federal Reserve’s comments.
Gold futures for August delivery rose 0.8 percent to reach $1424.40 an ounce, after hitting $1426 earlier in the trading to record the highest level since July 3.
The spot delivery price of the yellow metal also rose 0.2 percent to $1421.29 an ounce.