Gold prices experienced stable performance in local markets today, Tuesday, due to the stability of gold ounces prices in the world exchange market, registering $ 1840.
This status of stable performances in gold trades came amid investors' expectations to US Federal Reserves meetings today and tomorrow, and the soon-to-be-announced resolutions, including US interest rates rise, the new monetary policy, and the rates of inflation.
However, gold prices hit the highest point in two months yesterday over Europe and the Middle East's concerns over the increase in inflation rates which encouraged investors to flee to gold as a safe investing instrument.
Andrea Tadros, a member of the General Branch of Gold and Jewelry, of the General Federation of Chambers of Commerce, said, that 21-karat recorded EGP 804, while 24-karat was estimated by EGP 919.
On the other hand, 18-karat was estimated at EGP 690. Finally, the gold pound was sold at EGP 6432.
Contributed by: Rana Atef
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