In light of the government’s efforts to liberalise the pound exchange rate, gold prices continued to trade at their usual high level on Friday, October 28, 2022.
The government’s decision yesterday to liberalize the exchange rate of the pound against the dollar caused a major leap in the price of the yellow metal in the local market despite its global stability.
In a rare meeting on Thursday, the Central Bank of Egypt voted to increase interest rates by about 2%, bringing deposit and lending interest rates to 13.5% and 14.5%, respectively.
The purchase and sale weights for the 21 calibre increased by around 15 pounds to 1195 and 1205, respectively.
The weight of the 24 calibre was up 18 pounds, making the purchasing weight 1365.75 pounds and the selling weight 1377.25 pounds.
18 carat increased 13 pounds to record the purchase price 1024. 25 pounds and sell 1032.
75 kilos
The gold pound climbed by 40 pounds to 10625 pounds, while 9640 pounds were bought and sold.
It is worth noting that all gold platforms in Egypt for the gold trade on the Internet have stopped spreading prices for 3 hours due to fluctuation and instability of the situation in the gold market and approximate pricing, then returned to operate again at a price of 1200 pounds for 21 -carat gold gram..
Following an increase in interest rates, the price of gold increased during trading on Friday, 10-28-2022.
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