Gold Prices in Egypt End Week Higher

Gold prices in Egypt have risen for the second session by one Egyptian pound per gram on Thursday.

The Twenty-four carat gold is sold today for EGP 295.29; while the widely-spread in Egypt Twenty-one carat gold scored EGP 258.39.

The 18-carat gold also rose to EGP 221.49 on Thursday.

Mr. Adel Rady, Chief Division of gold Chamber of Commerce in Giza, said the gold prices in Egypt are wildly fluctuating from day to day driven by the global market status.

Mr. Rady further expected that gold prices in Egypt are likely to rise within the upcoming period driven by the soaring global prices for the ounce has surged to US$ 1332 for today, compared to US$ 1326.7 for the day before.

He also referred to the state of recession haunting Egypt’s gold market which has reached around 60% as the citizens tend to sell their gold deposits ahead of Eid al-Adha.

The Table below demonstrates the prices of gold in Egypt recorded on Thursday 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

295.29

$42.81

21K Gram

258.39

$37.46

18K Gram

221.49

$32.11

14K Gram

175.74

$25.48

10K Gram

125.56

$18.20

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