Gold prices in Egypt record historic levels, despite the stability of the dollar

Gold quotations in Egypt recorded new highs, reaching levels record, in one moment in which the local foreign exchange market was witnessing a state of calm, with the stability of the dollar against the Egyptian pound.

For the first time in the Egyptian market, the price of 21-karat and 18-karat gold jumped to its all-time high, following increases during last week’s trading.

In the foreign exchange market, the dollar exchange rate in Egypt ranged between £24.50, the highest purchase price, compared to £24.42, the lowest purchase price, while selling prices ranged between £24.54, the highest price, and £24.52 pounds, the lowest price.

At the Central Bank of Egypt the dollar exchange rate stabilized at 24.46 pounds in purchase, compared to £24.54 in sale.

Over the past week, gold prices in Egypt have risen to levels recordas the price of 21-karat gold recorded 1272 pounds, which is the highest level ever.

According to a statement, the Gold Division in Egypt has revealed that the global price of gold has not increased, reaching $1,749 an ounce during recent transactions, and this price includes the dollar price in the parallel market, which is now high relative to overseas As a result, the price local gold rose accordingly to rise in the parallel market.

The division indicated that the current time is not a suitable time for investors to buy gold, but it is a suitable time to sell to them rather than buying for profits, so it is a time for investors to make profits.

The price of 24-karat gold rose to £1477 and the price of 21-karat gold rose to £1292. The price of 18 carats rose to the level of 1107 pounds, and the price of the gold pound jumped to the level of 10340 pounds.

Globally, and as of the end of last Friday’s trading session, the global gold price traded as low as $1751 an ounce, down 0.55%.

Read More About: Business News