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Gold rises again in Egypt at 21K for 6360 EGP
Gold prices in the Egyptian market continued to rise for the second consecutive day, supported by the global increase in gold prices and with little change in the US dollar exchange rate, which remained above 51 pounds. This reflects the impact of international markets on local prices. The price of 21-karat gold reached approximately 6,360 EGP per gram. The market is beginning to recover after a period of decline, with prices fluctuating around the support level of 6,200 EGP. Meanwhile, outbound capital flows from the Egyptian market persisted, with approximately $557.6 million leaving the market on Tuesday and Wednesday. This was accompanied by escalating regional tensions between Iran and its proxies, which reduced liquidity in the local market, even as activity in the gold sector gradually resumed.
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