Egypt Independent

Gold prices continue to rise domestically, globally

Gold prices continued to rise on the domestic market on Wednesday, boosted by a rise in gold prices in the global market over the past two weeks.

The price of gold rose by about LE6 to record LE626 for a gram of caliber 21, LE536.55 for caliber 18 and LE715.40 for caliber 24, said Ehab Wassef, a member of the Board of Directors of the Gold Division of the Cairo Chamber of Commerce, on Wednesday.

The price for one pound of gold reached LE5,008, according to Wassef.

Globally, future contracts for gold jumped by nearly $7, equal to 0.6 percent, to reach $1243.61 per ounce.

Edited translation from MENA