Gold prices stabilized in local markets today, Wednesday, as gold prices reached $ 1798 in global exchange due to the US dollar rise.
The rise of the US dollar cost investors who deal with other currencies more expanses. Also, investors still looking forward the soon to be released data about US economic stimulations measures lifting.
Hany Milad, the Head of the General Division of Gold at the Federation of Egyptian Chambers of Commerce, said that 21-karat recorded EGP 785, while 24-karat reached EGP 897, on the other hand, 18-karat was estimated at EGP 673. Regarding the gold pound, it was sold at EGP 6280.
It is worthy to mention that gold prices declined yesterday by 0.3% after the rise of the US and the jump of the top worldwide shares in exchange markets due to the positive indicators regarding the US Federal Reserve’s intention to keep following stimulating policies for the near future.
Contributed by: Rana Atef
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