Gold in Egypt rose significantly for the first time

Gold prices in Egypt rose after stabilizing since the beginning of morning trading, and this growth was supported by the local movement of dollar prices.

Growth was in the range of 3 to 5 pounds, where the price per gram of 21 carat gold was 1215 pounds, while the price of 24 carat gold was about 1370 pounds, and the price of 18 carat gold was 1040 pounds.

Naguib Naguib, a former member of the Gold Department of the Federation of Chambers of Commerce, said: “The current time is right to buy gold because gold in Egypt could rise, especially in light of the dollar’s strength.”

According to the Central Bank of Egypt, the buying price of the dollar was fixed today, Tuesday, at about 24.05 pounds to buy, while the selling price of the dollar today in Egypt reached about 24.18 pounds to sell, and this is one of the reasons for the increase in prices for gold in Egypt today because the dollar and gold are moving together.

Although speculation pointed to a sideways move in the price of gold today, as the US Federal Reserve met to discuss interest rates, gold prices worldwide continued to move on an upward curve and were locked at $1,656 at the time of writing this report. an increase of 1.2%.

Source: Today’s News