Gold prices in the local markets remained stable during Monday’s trading due to the stability of the ounces in the global exchange markets which nears its lowest level in 3 weeks.
The stability in prices is due to the rise in bond yields amid investors' hopes of US economic data that may enhance the US Federal Reserve's tendency to raise interest rates sooner than expected.
Hany Milad, head of the Gold Division at the Cairo Chamber of Commerce, said that the gold ounces recorded $ 1796 and 21-karat reached EGP 788.
Milad added that 24-karat was estimated by EGP 901, 18-karat reached EGP 676, and the gold pound was sold at EGP 6304.
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