01:03 PM
Friday 02 October 2020
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I wrote – Shaima Hefzy:
Gold prices increased in Egypt during trading on Friday, affected by the rise in global prices of the yellow metal after the announcement of US President Donald Trump’s infection with the Corona virus.
Naguib Club, former general secretary of the gold division of the Cairo Chamber of Commerce, told Masrawy that the price of a gram of 21 carat gold rose during the beginning of today’s trading by 4 pounds to 834 pounds compared to 830 pounds yesterday.
Naguib explained that the price increase was caused by the increase in the global price of gold to 1908 dollars an ounce, expecting that prices would rise again by the end of trading with the start of trading on the American Stock Exchange.
The price of a gram of 18-carat gold was about 715 pounds, and the price of a 24-carat gram was about 953 pounds, and the price of a pound of gold reached 6672 pounds.
Globally, gold prices rose during trading on Friday, and investors resorted to it as a safe haven after analyzes proved that US President Donald Trump was infected with the “Covid-19” epidemic, which negatively affected stock markets around the world.
Spot gold rose 0.2%; To reach 1914 dollars an ounce, while gold futures in the United States settled by 0.1% to 1910 dollars an ounce.
Gold is heading; To achieve its best results in a month, after having seen a drop for the past four weeks.
This morning, US President Donald Trump announced that he and his wife Melania Trump had been infected with the “Covid-19” epidemic, and were quarantined, weeks before the presidential elections scheduled for the third of next November.
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