Arab Finance: Gold prices in Egypt soared on Wednesday, with the 24-karat seeing an 11.5% increase to EGP 4,560 per gram for buying and EGP 4,582.75 for selling, iSagha’s data showed.
Likewise, the 22-karat gold price increased by 10.5% to EGP 4,1180 per gram for purchasing and EGP 4,201 for selling.
The 21-karat gold’s price rose by 10% to EGP 3,990 per gram for buying and EGP 4,010 for selling.
The price of 18-karat gold also jumped by 8.5% to EGP 3,420 per gram for buying and EGP 3,437.25 for selling.
The gold pound recorded an 80% surge in price, reaching EGP 31,920 for purchasing and EGP 32,080 for selling.
Meanwhile, the gold ounce’s price went down by 0.25%, recording $2,867.67 for buying and $2,867.94 for selling.
In 2024, demand for gold bars and coins in Egypt shrank by 21% in 2024 to 24 tons, versus 30.3 tons in 2023, a report by the World Gold Council highlighted.
