Gold prices slightly increased in domestic markets, on Saturday, after a positive performance of gold in world exchange markets on Friday due to the decline of the US dollar and the US bonds interests.
Those factors encourage the investors to direct their attention to gold as a safe investing instrument.
Saied Embabi, the CEO of Isagha platform, said that gold rose by EGP one in local markets.
21-karat recorded on Saturday EGP 987, while it was estimated at EGP 991 on Friday, before closing at EGP 987. On the other hand, the ounce reached $ 1927 on Saturday. It is worthy to mention that gold ounces recorded its lowest price in a year to register $ 1680.
Embabi added that 24-karat was sold at EGP 1128, on the other hand, 18-karat recorded EGP 846, while, 14-karat hit EGP 658.
Regarding the gold pound, it recorded EGP 7896.
He concluded that the fall of sales despite the fall of prices as the buyers concerned over more increase in gold prices, therefore, they delay buying gold for anticipating more decrease.
Contributed by: Rana Atef
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