Gold prices in Egypt hike by EGP 2 per gram, 21-carat gold at 867

Gold prices in Egypt today jumped by 2 Egyptian pounds ($0.13) per gram as global gold prices hit a new record over worries persist over a new rise in the number coronavirus infections.

Spot gold on Monday traded up by more than 2 percent to about $1,941.11 per ounce. These levels eclipsed the previous record high price set in September 2011.

Ehab Wasfy, deputy head of the gold division at the Cairo Chamber of Commerce told Amwal Al Ghad on Monday that the price of 21-carat gold, the most popular in the local market, rose to around 867 Egyptian pounds ($54.16).

The 18-carat gold also inched higher to around 743.15 pounds, Wasfy said.

The table below demonstrates the prices of gold in Egypt in Egyptian pounds (EGP) on Monday, July 27, 2020:

Carat Price
24-carat 990.85 pounds
21-carat 867 pounds
18-carat 743.15 pounds
Gold pound 6,936 pounds
Gold ounce $1,941