Thursday 09 July 2020
I wrote – Sherine Salah:
The price of a gram of gold in Egypt continued to rise during Thursday’s transactions, as the gram increased by about two pounds, compared to its level during the mid-day of trading yesterday; To set a new record never reached before.
Club Naguib, Secretary General of the Gold Division of the Cairo Chamber of Commerce, told “Masrawy” that the price per gram of 21-carat gold rose today to 802 pounds from 800 pounds during the middle of yesterday’s trading.
The price of a gram of 18 carat gold was 686 pounds, 24 carat 914 pounds, and the gold pound was 6400 pounds.
During the day’s trading, international gold prices rose, and an ounce of gold rose about 3.5 dollars, or 0.19%, compared to the end of trading yesterday, according to Bloomberg data.
The price of an ounce was 1813 dollars, at twelve and 40 minutes today, Cairo time.
Naguib added that the dollar’s decline has slowed the pace of gold’s rise in the local market.
The price of the dollar fell 7 piasters against the pound since the beginning of this week and until now; Up to 15.97 pounds for purchase, and 16.07 pounds for sale, according to central bank data.
Gold prices jumped in the local market yesterday, Wednesday, as the gram increased by about 8 pounds at one go.
Global gold prices also rose to new highs yesterday, and the ounce price rose to $ 1,800 for the first time since 2011.