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Gold Prices Rise as 21K Gains Wealth
Gold prices in Egypt experienced a significant rise today, with the price of a 21-karat gram increasing by about 30 Egyptian pounds to reach approximately 6,000 pounds—a record high during trading. This surge is driven by the continued increase in global gold prices, reaching their highest levels in weeks, while the US dollar remains relatively stable at 51.30 pounds in banks. This rise is supported by growing demand for the precious metal as a safe haven, with expectations that prices will continue to stay elevated amid a widening gap between global and local prices, especially as investors await developments in US monetary policy and geopolitical events.
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