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Record-breaking gold prices seen in Egypt for the first time in history

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Ziad Najjar
Ziad Najjar is an Egyptian author who studied business and finance in the United States and has a keen interest in media. He combines his expertise in these fields to create informative and engaging works accessible to a broad audience.

Gold prices continued to rise in the local market in Egypt, for the first time exceeding the mark of 3,000 pounds during today’s trading on Thursday.

The increase in gold prices occurred due to the increase in the price of an ounce on world stock exchanges due to the fall of the dollar, as well as against the backdrop of the market waiting for a meeting of the US Federal Reserve to determine the fate of interest rates on May 3. .

The price of 24 carat gold is around £3,062 per gram.

The price of 21 carat gold has reached £2,680 per gram.

The price of 18 carat gold was about 2297 pounds per gram.

The price of a pound of gold, starting at 8 grams of 21 carats, reached 21,440 pounds, without the addition of workmanship or stamps.

The price of an ounce of gold on the world stock market was about 1980 dollars.

Gold experts expect the price of the yellow metal to fluctuate wildly with the release of Q1 2023 GDP data and personal consumption spending data, which will impact gold price performance in the coming period.

Source: Cairo 24

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