Commodities
Egyptian Gold Prices Rise as Global Rate Hike Boosts Demand
The price of gold in Egypt rose by EGP 40 on Thursday to reach EGP 6,310 per gram, marking a 0.6% increase from Wednesday's close.
In global markets, gold gained around $58 to reach $4,330 per ounce, up approximately 1.4%, according to World Gold Council data available at the time of writing.
The price of 24-karat gold reached approximately EGP 7,211 per gram, while 18-karat gold stood at EGP 5,409. The Egyptian gold pound was priced at around EGP 50,480.