Gold in Egypt slightly higher despite global fall in early trade

Gold in Egypt slightly higher despite global fall in early trade

Gold price decline in Gaza in comparison to global priceGold /Archive

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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