Arab Finance: Gold prices rose to their highest level in more than three months on Monday, August 24.
Spot gold was up 0.9% at $4,643.63 per ounce as of 06:44 GMT, its highest level since mid-May. Prices gained more than 5% last week.
This increase was supported by a subdued US dollar, while investors turned their attention to key US inflation data and a speech by Federal Reserve Chair Kevin Warsh later this week.
In Egypt, 24-karat gold was priced at EGP 7,612.95 per gram for buyers and EGP 7,539.25 for sellers, according to Dahab Masr’s latest data by 10:33 am Cairo time.
Meanwhile, the 21-karat gold stood at EGP 6,662 for buyers and EGP 6,597.50 for sellers.