23 Hrs
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اليوم السابع
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Gold pound remains at 50,560 pounds
The price of the gold pound in Egypt remains stable at 50,560 Egyptian pounds at the start of Tuesday's trading sessions. This comes in tandem with stable local gold prices, with the 21-karat gold recorded at around 6,320 pounds per gram. This stability is attributed to a balanced global gold market, where the price of an ounce of gold decreased by 0.6% to reach a low of approximately $4,396. Factors such as changing expectations regarding US monetary policy and rising oil prices have also influenced this situation. The stability in the local market is explained by weak demand and increased supply from backwardation sales, with a negative price gap of about 30 pounds per gram for 21-karat gold, which impacts liquidity among traders.
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