Gold continues to rise in Egypt… 21 carats file 3125 kilos

Gold costs elevated in Egypt on Saturday, December 30, 2023, on the finish of the buying and selling session, affected by the rise in gold costs on the world inventory market.

The worth of 21-carat gold, the commonest in Egypt, was round 3,125 kilos on the market and three,075 kilos for buy, a rise of 75 kilos from yesterday’s worth, Friday.

The worth of 18 carat gold recorded round 2,500 kilos on the market and a couple of,450 kilos for purchasing, a rise of fifty kilos from yesterday’s buying and selling.

The worth of 24 carat gold recorded round 3,750 kilos on the market and three,700 kilos for purchasing, a rise of 100 kilos from yesterday’s buying and selling.

The gold pound worth recorded round 24,800 kilos on the market and 24,300 kilos for buy, a rise of 1,200 kilos from yesterday’s buying and selling.

Under are the gold costs in Egypt as we speak, Saturday December 30, 2023:

Causes for the rise

The rise in gold costs in Egypt as we speak is because of a number of components, a very powerful of that are:

  • Gold costs rose on the worldwide inventory market, with the value per ounce reaching round US$1,850, a rise of US$50 from yesterday’s buying and selling.
  • The Egyptian pound weakened towards the US greenback, with the value of the greenback growing as we speak to round 18.5 Egyptian kilos, a rise of fifty piastres from yesterday’s buying and selling.
  • Elevated demand for gold from buyers as it’s a secure haven towards international inflation.

Professional forecasts

Consultants anticipated gold costs to proceed to rise within the coming interval, as a result of continued rise in international inflation and the weak spot of main currencies towards the US greenback.

Consultants have stated the value of gold may attain $2,000 per ounce throughout the subsequent yr.