Gold prices in the Egyptian market lost, during last week’s transactions, 48 pounds, coinciding with a global drop of an ounce of 20 dollars, to reach 1946 dollars, according to the Goldsmiths Division of the Chambers of Commerce.
Division member Ihab Wasef said, in a phone call today, Sunday, to “Mubasher,” that the price of gold recorded 983 pounds for 24 karat, while 21 carat reached about 860 pounds, while 18 caliber scored 737 pounds.
A member of the Goldsmiths Division in the Chambers of Commerce indicated that the gold pound recorded 6880 pounds.
Globally, gold prices fell globally by more than 20 dollars when settling transactions on Friday, to record the first weekly decline since early June.
The performance of the precious metal came with a jump in Treasury yields, which prompted investors to re-evaluate their positions again after gold fell sharply from its record high earlier this week.
US 10-year Treasury yields have risen about 15 basis points this week so far, in the sharpest rise since early June.
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