Gold gram drops 750 pounds in three weeks
Gold prices in the local market experienced a significant decline last week, with the price per gram dropping by approximately 260 Egyptian pounds due to a decrease in global prices and a decline in the ounce on the international exchange. The ounce fell by about 64 dollars, a 1.5% drop, reaching a low of $4,155. The price of the gold pound also fell to 48,160 pounds. Since the beginning of June, the metal has lost 745 pounds, an 11% decrease, while the year's gains have shrunk to 3.3%. This reflects the local market's absorption of the impact of global declines and the narrowing of the premium on gold.
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