Gold in Egypt slightly higher despite global fall in early trade

The Gaza Post|The News of Palestine-Cairo

Gold prices slightly rose in Egypt on Monday by one Egyptian pound ($0.057) per gram despite fall in global gold markets this morning.

The twenty-four carat gold was sold for 729.15 pounds; while the widely-spread in Egypt, twenty-one carat gold scored nearly 638 pounds.  The 18 carat gold reached 546.85 pounds.

Gold pound also rose by 8 pounds, to reach 5,104 pounds on Monday, Ehab Wasfy, a member at the gold department at the Federation of Egyptian Chambers of Commerce, told Amwal Al Ghad.

Gold in global markets slipped in early Monday trade on a firmer dollar and stronger Asian equities, but stayed above the key psychological level of $1,300.

The metal gained about 0.9 percent on Friday after U.S. President Donald Trump warned he might ultimately end a 2015 nuclear agreement with Iran and after data showed underlying inflation remained muted in the United States.

Spot gold was down 0.2 percent at $1,302.51 an ounce as of 0358 GMT, while U.S. gold futures for December delivery were unchanged at $1,304.80 per ounce.

Source:Amwal Al ghad

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