Gold prices in Egypt hike by EGP 15 per gram, 21-carat gold at EGP887

Gold prices in Egypt today jumped by 15 Egyptian pounds ($0.90) per gram; the price of 21-carat gold, the most popular in the local market, rose to around 887 Egyptian pounds as global gold prices seen the best one-day gain in about four months.

Gold prices climbed 1 percent to surpass the $2,000-mark on Tuesday, as the dollar weakened to a more than two-year low, with traders also focusing on minutes from the

U.S. Federal Reserve’s last policy meeting set to release this week.

Spot gold  rose 0.7 percent to $1,999.26 per ounce by 0717 GMT, having earlier hit a one-week high of $2,007.19.

The one gram of of 24-carat gold registered EGP 1005, a new record high, said Ehab Wassef, the deputy head of the gold division of the Cairo Chamber of Commerce said.

The table below demonstrates the prices of gold in Egypt in Egyptian pounds (EGP) on Wednesday August 5, 2020: