Gold prices in Egypt rose by at least nine LE for all kinds on Saturday compared to Friday.
Friday saw gold prices fall within Egypt before global price movements were reflected in the local market.
Cairo Chamber of Commerce Gold Division member Amir Rizk anticipated a rise in prices during the coming period, after the American stimulus package was approved.
The 21-karat gold (the market’s highest selling gold) increased by LE10 per gram to LE764, from Friday’s price of LE754.
The price of 24-karat gold increased by LE14 to LE874 per gram, from Friday’s price of LE860. The 18-karat gold increased to LE655 per gram, from Friday’s price of LE646, while the price of a gold coin increased to LE6,112 from Friday’s price of LE6,030.
Experts predict the prices to rise again during the coming period, especially with the stability of the global economic situation and vaccinations against the coronavirus.
Edited translation from Al-Masry Al-Youm