12:27 PM
Tuesday 14 January 2020
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I wrote – Sherine Salah:
Local gold prices fell by about two pounds during Tuesday’s trading, compared to yesterday’s levels, to continue falling for the sixth consecutive day.
The Club Naguib, Secretary General of the Gold Division, Cairo Chamber of Commerce, told Masrawy that the price of a gram of 21 carat gold fell today to about 683 pounds compared to 685 pounds yesterday.
The price of a gram of 18 carat gold fell to about 585 pounds, the price of a gram of 24 carat gold to about 781 pounds, and the price of a gold pound to 5464 pounds.
Globally, gold prices fell to their lowest levels in nearly two weeks today, as risk appetite improved due to Chinese economic data that came out better than expectations and the imminent signing of a preliminary trade agreement between the United States and China, according to Reuters.
The spot gold fell 0.6% to $ 1538.84 an ounce by 0459 GMT.
Earlier in the session, prices touched their lowest levels since January 3 at $ 1535.75.
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