Gold Prices Stable, 21-Carat at EGP 790

walid Farouk

Gold prices have stabilized in local markets during today’s trading, due to the stability in the ounce of gold price in the global stock exchange.

Amr Al-Maghraby, member of the Gold Division at the Cairo Chamber of Commerce, said that gold prices stabilized in the local market, 21-carat recorded EGP 790, while the gold ounce price in the global stock exchange recorded $1814.

He added that 24-carat recorded EGP 903, and 18 –carat is at EGP 677, while the gold pound recorded EGP 6320.

Moreover, Al-Maghraby noted that gold is a hedge against inflation and currency instability caused by major stimulus measures.

Contributed by Nada Mustafa

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