Egypt’s gold prices witnessed stability for the second day during Sunday’s trading, after having risen by US$40 per ounce since last Thursday, a 2.1 percent rise and the highest in two months according to experts in global stock exchanges.
Gold prices rose by 19 pounds per one gram of 21-karat-gold, the experts said.
The experts attributed this rise in gold prices to the decline in treasury bonds, which in turn put pressure on the dollar index, which measures the performance of the US currency against other major currencies.
Experts expect this effect to remain during the current week.
The price of 21-karat gold on Sunday recorded LE784.16, the same price compared to Saturday’s prices, and an ounce globally recorded $1,777.29, which is the same price compared to Saturday’s prices.
Edited translation from Al-Masry Al-Youm