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Gold Prices Stable on Global Gains
The price of 24-karat gold in Egypt remains at 7,020 Egyptian pounds per gram, after a rise of about 40 pounds on Friday. This increase was driven by the global recovery of the ounce and its rise to $4,185, despite a decline in domestic demand and fluctuations in the global gold market. The gold ounce increased by 1.5% on Friday, reaching its highest level in a week at $4,207, supported by a weakening US dollar and lower US bond yields. Investors are keenly watching global market trends and the impact of US economic data on gold prices in Egypt.
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