Following Anti-Morsi Protests, Egypt Gold Prices Edge 2 Pounds Higher

Coinciding with the ongoing anti-regime mass demonstrations, Gold prices in Egypt have surged on Monday by 2 Egyptian pounds.

The Twenty-four carat gold is sold today for EGP 281.35; while the widely-spread in Egypt Twenty-one carat gold has reached EGP 246.19.

The18-carat gold hit EGP 211.03, and the 14-carat gold is sold for EGP 164.16.

The 10-carat gold reached EGP 117.28.

Nady Naguib – member of the gold traders chamber – said the gold shops in Egypt are currently halting their activities till the end of this week due to the ongoing protests that call for ouster of Egyptian president Mohamed Morsi.

In coordination with the country’s Interior Ministry, the gold shops in Egypt have decided to close starting from June 30 in fear of the ongoing protest would spill over into violence, Mr. Naguib added.

The Table below demonstrates the prices of gold in Egypt recorded on early Monday in Egyptian pound (EGP) and the US Dollar (USD):