Gold Futures Fall in Egypt, 21-Carat Hits EGP257
Gold futures in Egypt witnessed a downturn performance on Sunday. The gold prices fell by one Egyptian pound per gram.
The Twenty-four carat gold is sold today for EGP 290; while the widely-spread in Egypt Twenty-one carat gold has reached EGP 257. The18-carat gold hit EGP 222.
El-Sayed El-Sharkawy – chairman of gold traders chamber of Alexandria – told Amwal Al Ghad that the local downturn performance is driven by the decline in the global gold futures.
Notwithstanding the lacklustre performance, El-Sharkawy said he expects a 10% surge in the local gold market within the current week by the virtue of the relative political and security situation in Egypt.
The Table below demonstrates the prices of gold in Egypt recorded on early Sunday in Egyptian pound (EGP) and the US Dollar (USD):
|
Egypt’s Gold Prices in Egyptian pound (EGP) & US Dollar (USD) |
||
|
Carat |
EGP |
USD |
|
24K Gram |
290 |
$42.04 |
|
21K Gram |
257 |
$37.26 |
|
18K Gram |
222 |
$32.18 |
|
14K Gram |
179.03 |
$25.95 |
|
10K Gram |
127.9 |
$18.54 |
