Gold prices declined in Egypt on Sunday with the price of 21-karat (the market’s highest selling gold) falling by nine LE per gram to LE799, comparing to Saturday’s price of LE808. The price of 24-karat gold now stands at LE912 per gram, compared to Saturday’s price of LE923. Eighteen-karat gold is at LE686 per gram, compared to Saturday’s price of LE694. This is part of the ongoing decline of gold prices since the start of the year, with the price of gold falling by LE46, a shock to traders. Cairo Chamber of Commerce Gold Division member Amir Rizk attributed the significant decline in gold prices to companies earning profits.

Source: Egypt Independent February 07, 2021 13:41 UTC