12:26 PM
Saturday 16 May 2020
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I wrote – Sherine Salah:
Gold prices rose in the local market today, Saturday, to set a record, according to Club Naguib, Secretary General of the Gold Division of the Cairo Chamber of Commerce, to Masrawy.
The price of a 21-gram gold price today reached 757 pounds, compared to 755 pounds per gram, yesterday, hitting the highest level in its history.
Naguib said that the price of a gram of 18 carat gold rose today to 649 pounds, 24 carats to 865 pounds, and gold pounds to 6056 pounds.
Najib attributed the high price of gold in the local market to its highest level, due to a leap achieved by the world gold price to reach its highest level in 7 years.
Yesterday, gold jumped more than 1% to a level not seen since 2012, as renewed US-Chinese tension added to concerns about a deep economic downturn due to the Corona virus pandemic, according to Reuters.
And the profit of gold in the spot transactions 0.77% to record 1743.6 dollars an ounce (ounce) at the end of trading yesterday.
During the session, it reached its highest level since November 2012 at $ 1751.25. US gold futures rose 0.9% to $ 1756.30.
Today and tomorrow is an official holiday.
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