Gold in Egypt edges up, buoyed by global metal markets

Gold prices in Egypt edged up on Monday after recording an increase of 10 Egyptian pounds ($1.13) per gram, buoyed by growing prices of gold metal in global markets.

The twenty-four carat gold was sold for 731.40 pounds; while the widely-spread in Egypt, twenty-one carat gold scored 640 pounds.  The 18 carat gold reached 548.55 pounds.

Gold pound also hiked to 5120 pounds on Monday, Ehab Wasfy, a member at the gold department at the Federation of Egyptian Chambers of Commerce, told Amwal Al Ghad.

Spot gold was up 0.07 percent at $1,276.81 an ounce by 05:05 GMT, while U.S. gold futures were up 0.07 percent at $1,277.70.

The table below shows the recent data on local gold prices: