The price of gold in Egypt recorded a new decrease of five LE in mid trading on Monday, August 15.
The 21-karat gold recorded LE1,050 per gram on Monday in mid-trading down from LE1,055.
Global gold prices witnessed over the past days clear rises reaching US$1,802 per ounce.
The price of gold locally was affected by the rise in the US dollar prices.
Traders expect the price of gold to continue to rise by up to 30 percent.
The global price of gold fell at $1,777 an ounce, recording a $5 drop in the price of an ounce. The global price was affected by the US Federal Reserve’s decision to raise the interest rate to 75 points.
Gold prices on Monday in Egypt:
- The 24-karat gold recorded LE1,200 per gram
- The 21-karat gold recorded LE1,050 per gram
- The 18-karat gold recorded LE900 per gram
- The 14-carat gold recorded LE700 per gram
- The price of the gold pound recorded LE8,400.
Edited translation from Al-Masry Al-Youm