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The price of the gold pound in the Egyptian market has seen a significant rise, approaching 48,000 EGP. Over the past week, it increased by 175 EGP per gram, a 3% gain. This comes after strong gains in 21-karat gold, which rose by 3% to approximately 5,985 EGP per gram, edging close to the 6,000 EGP mark. Meanwhile, prices for other gold karats such as 24, 18, and 14 remained stable at 6,840, 5,130, and 3,990 EGP per gram, respectively. The rise is attributed to increased local demand and a reduction in some expectations of gold price fluctuations, while the ongoing impact of the rising US dollar exchange rate continues to influence the market.
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