Arab Finance: Gold prices climbed more than 2% on Wednesday, August 5, hitting a one-month high, as growing optimism over a potential US-Iran peace agreement boosted demand for the safe-haven metal, Reuters reported.
Spot gold advanced 2.2% to $4,164.13 per ounce by 08:36 GMT, its highest level since July 7, while US gold futures gained 1.7% to $4,223.60 per ounce.
In Egypt, the 24-karat gold was priced at EGP 6,791.79 for purchase and EGP 6,707.25 for sale, according to Dahab Masr data at 9:22 AM.
The 21-karat gold price amounted to EGP 5,943.41 for buying and EGP 5,869.43 for selling.