01:37 PM
Thursday 12 March 2020
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I wrote – Shaima Hefzy:
Gold prices in Egypt tumbled during Thursday’s trading, 7 pounds per gram, despite the high prices globally.
The Club Naguib, Secretary General of the Gold Division of the Cairo Chamber of Commerce, told Masrawy that the price of a 21-gram gold continued to decline for the third day in a row, recording today 721 pounds compared to 728 pounds yesterday.
The price of 24 carat gold fell to 824 pounds, 18 carat to 618 pounds, and the gold recorded 5768 pounds.
Najib pointed out that the goldsmiths’ shops were closed today due to bad weather and rains hitting the country.
Globally, gold rose in immediate trading 0.5% to $ 1642.46 an ounce by 0854 GMT, but there was little change in the US gold futures contracts at $ 1642.20.
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