Gold prices in Egypt recorded a remarkable rise in the value of 3 pounds, with the rise in the price of gold globally due to fears of the continued spread of the Corona virus in a number of countries other than China, where the prices of the precious metal rose in the goldsmiths market, to record the price of a gram of gold in Egypt in relation to 21 karat, which is the most Selling in Egypt 715 pounds per gram.
Gold prices today in Egypt:
Caliber 18 records 612 pounds.
Caliber 21 records 715 pounds.
Caliber 24 records 817 pounds.
The gold pound is 5720 pounds.
An ounce of gold is 1650 dollars.
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Gold prices rose on Thursday as the rapid spread of the Corona Virus outside China fueled demand for safe haven assets and boosted interest-rate bets from major central banks, while palladium hit a record high on concerns over supply shortages.
The spot price of gold rose .8% to $ 1651.95 an ounce. Prices jumped more than 1% during trading on Wednesday, but closed up only 0.3%, and US gold futures increased 0.7 percent to $ 1654, according to Reuters.
The precious metals division attributed the rise in gold prices in the past few days, globally and locally, to the continued impact of economic activity and global growth on the spread of the Corona virus, which enhances the demand for the yellow metal, which is considered a safe haven.
In other precious metals, palladium fell 0.1% to $ 2787.64 an ounce, after hitting a record high at $ 2847.50 earlier in the session.
And platinum increased 1.2% to record 921.62 dollars, after having touched earlier its lowest levels since December, and silver rose 1.3% to 18.12 dollars an ounce, after recording the lowest price in a week during the previous session.
Club Naguib, a member of the Precious Metals Division of the Chamber of Commerce, said that the global price is heading upward due to the Corona virus, so the price of gold will continue to rise unless China can control the spread of the virus, and its reflection on the economy.
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