In the mid-day of trading on Wednesday, the price of gold returned to a rapid rise after a significant decline on Tuesday, to settle near its highest level since November with the decline of the US dollar price.
The US dollar has an inverse relation with the price of gold. The global stock exchange opened trading on a decline, but the demand for gold pushes prompted the prices to rise again.
Globally, gold prices rose in spot transactions by 0.30 percent or $5.63, and traded at $1,859.14 an ounce.
And gold prices in futures contracts on the global stock exchange decreased during the Asian session at the beginning of trading by 0.10 percent and was trading at $ 1854.35 an ounce before rising with the increased demand for purchase.
The price of gold rose Wednesday in Egypt, in mid-day trading in response to the rise in gold prices globally, as it rose by LE4, to recover part of the luster that gold lost during Tuesday’s trading.
- The price of 24-carat gold in Egypt ranged between LE929 and LE 930 per gram.
- The price of 21-carat gold in Egypt ranged between LE929 and LE 930 per gram.
- The price of 18-carat gold in Egypt ranged between LE 696 and LE 697 per gram.
- The price of the gold pound in Egypt on Wednesday morning was between LE 6,504 and LE 6,512, which is eight carats of 21 karat gold.