Egypt's gold prices drop on lower global prices

Gold prices continued the downward trend in the Egyptian market

  
A salesman arranges gold jewellery in a shop at the market of Khan el-Khalili in Old Cairo, Egypt August 20, 2019.

A salesman arranges gold jewellery in a shop at the market of Khan el-Khalili in Old Cairo, Egypt August 20, 2019.

REUTERS/Hayam Adel

Cairo – Mubasher: Gold prices continued the downward trend in the Egyptian market, falling by EGP 5 per gram on Wednesday as global prices of the precious metal fell to $1,888 per ounce, Ehab Wassef, a member of the gold division at the Federation of Egyptian Chambers of Commerce (FEDCOC), told Mubasher.

The price of 21-karat gold registered EGP 825 per gram, while the per-gram price of 18- and 24-karat gold amounted to EGP 707 and EGP 942, respectively, Wassef revealed.

In addition, the gold pound is priced at EGP 6,600.

Source: Mubasher Exclusive

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