The price of gold in the Egyptian market dropped on Wednesday by about LE six per gram compared to Tuesday’s prices. The price of 21-karat gold (the most popular grade in the local market) stood at LE756 per gram on Wednesday, compared to LE762 on Tuesday. Tuesday’s prices were: LE762 for 21-karat gold, LE653 for 18k gold, LE871 for 24k gold to LE861. This comes in light of the decrease in global gold prices of about US$20 per ounce in today’s tradings. The price of 21-karat gold in the local market has increased by more than LE50 since Egypt announced its first coronavirus case in February.

Source: Egypt Independent May 27, 2020 14:48 UTC