witnessed gold prices During the week, an increase of regarding 15 pounds during the current week, as the price of a gram of 21 karat gold, which is the most popular in Egypt, increased from 812 to 827 pounds per gram.
Gold began trading this week at the level of 812 pounds for the main carat, at a time when an ounce of gold recorded 1858 dollars, and with the repercussions of the crisis in Russia and Ukraine, an ounce of gold recorded levels of 1898 dollars, which was reflected in gold in Egypt to record 827 pounds per gram.
Mamdouh Abdullah, a member of the Board of Directors of the Metals Division of the Federation of Industries, said that the continuation of the Ukrainian-Russian crisis clearly increases the demand for gold in trading on global stock exchanges, and this pushed gold to the highest levels in 8 months.
Mamdouh Abdullah indicated that prices were heading downward with the announcement of the US Federal Reserve to raise interest rates during next March, but with the tensions on the Ukrainian-Russian borders, major companies and investors began to buy gold aggressively, which raised prices.
