Arab Finance: Gold prices in Egypt hiked on Wednesday, with the 21-karat gold recording EGP 7,071 for purchasing and EGP 7,010 for selling, according to Dahab Masr’s data by 4:03 pm.
The 24-karat price amounted to EGP 8,080.33 for buying and EGP 8,010.63 for selling
The international gold ounce price stood at $5,258.7 for purchase and $5,258 for sale, as the US dollar struggled near four-year lows after President Donald Trump brushed off its recent weakness.
"Gold is rising not merely due to market anxiety, but also because confidence in the global monetary-fiscal order is shifting toward a more cautious stance," said Linh Tran, senior market analyst at XS.com.