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The price of gold recorded an increase in the local market at a rate of 13 pounds per gram, as the price of 21 grams per gram jumped to about 704 pounds, while the price of 18 caliber reached about 605 pounds, the price of 24 caliber reached about 805 pounds and the price of the gold pound rose to 5640 pounds.
The Club Naguib, head of the gold division of the Cairo Chamber, said that the political moves on the world stage had the greatest impact on the increase in gold prices globally and the rise in trading prices on the stock exchanges. He added, “Naguib”, in statements to “Al-Masry Al-Youm”, that the local market is quickly affected by such increases, which led to a local price increase of about 13 pounds in transactions, Monday. On trading rates, he pointed out that it is very slow in light of the lack of liquidity and limited purchases are limited to some light pieces.
In the global market, gold prices rose to their highest level in 7 years during trading on Monday, due to the escalation of tensions in the Middle East, where gold futures prices for February delivery rose by 1.4% or the equivalent of $ 21.50 to $ 1573 an ounce. The spot price increased by 1.4% to $ 1573 an ounce, to earn $ 21.62, the highest level since April 10, 2013.
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