01:13 PM
Monday 27 January 2020
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I wrote – Sherine Salah:
Gold prices in Egypt increased by about 5 pounds per gram during Monday’s trading, compared to yesterday’s prices, as a result of the rise in the price of the metal globally.
The Club Naguib, Secretary General of the Gold Division of the Cairo Chamber of Commerce, told Masrawy that the price of a gram of 21 carat gold rose today to 694 pounds compared to 689 pounds yesterday.
Also, the price of a gram of 18 carat gold increased to about 595 pounds, the price of a gram of 24 carat gold reached about 793 pounds, and the price of a pound of gold reached 5552 pounds.
Globally, gold prices rose to their highest level in more than two weeks on Monday, with stocks declining due to growing fears of a possible spread of the new Corona virus on the Chinese economy, prompting investors to get rid of high-risk assets and seek safe havens.
And gold rose in immediate transactions 0.6% to 1579.42 dollars an ounce by 0633 GMT, according to Reuters news agency.
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