Egypt Gold Prices Soar, 21-Carat Hits EGP 284.89

Gold prices in Egypt have soared on Tuesday by 10 Egyptian pounds, halting two-day steadiness.

The Twenty-four carat gold is sold today for EGP 325.55, compared to Monday’s levels of EGP 314.69.; while the widely-spread in Egypt Twenty-one carat gold has reached EGP 284.89, opposed to EGP 275.4 a day before.

The18-carat gold hit EGP 244.23, opposed to Monday’s levels of EGP 236.1, representing an increase of EGP 8.13.

Nady Naguib – member of the gold traders chamber – said the chamber was expecting such an increase which is driven by the higher exchange rates of the US dollar in the black market.

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