After exhibiting stability from the start of the morning transactions, gold prices have risen in Egypt, and this climb was aided by changes in the local dollar.
The price of a gramme of 21-carat gold was 1215 pounds; 24-carat gold prices were around 1370 pounds; and 18-carat gold prices were 1040 pounds. The increases were between 3 and 5 pounds.
“The current time is suitable for the purchase of gold, because gold in Egypt is subject to rise, especially in light of the rise of the dollar,” said Naguib Club, a member of the Gold Division of the Federation of Chambers of Commerce.
The Central Bank of Egypt reports that the cost to buy a dollar today was around 24.05 pounds, while the cost to sell a dollar today in Egypt was approximately 24.
18 pounds for sale, which is one of the factors contributing to the current high price of gold in Egypt as the dollar and gold move in tandem.
Despite claims that the gold price moved accidentally today due of the American Federal Reserve meeting to debate interest rates, gold prices continued to rise globally and reached $ 1656 at the time this report was being written, a gain of 1.2%.
Today’s News, as a source.
For the first time ever, Egypt sees a major surge in gold prices.
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