2023-08-11 13:47:00
04:47 PM Friday, August 11, 2023
I wrote – Sherine Salah:
Gold prices witnessed successive increases since yesterday evening’s trading until today, Friday, and the price of a gram increased by 40 pounds during the two days, according to Naguib Club, former Secretary General of the Gold Division of the Cairo Chamber of Commerce, to Masrawy.
According to Naguib, the price of a gram of gold rose today, Friday, by evening trading, to 2200 pounds, compared to 2160 pounds during the middle of yesterday’s trading, Thursday, an increase of 40 pounds per gram.
Why did the price of gold go up?
Najib attributed the rise in the price of gold in the local market to the increase in buying demand by customers since yesterday, Thursday.
Naguib explained that the demand was to buy gold bullion and artifacts, noting that the price per gram is very suitable for investment during the current period, which prompted customers to buy the yellow metal as a safe haven.
Naguib expected a further increase in the price of a gram in the coming days, especially with the current purchasing activity.
Gold prices in the local market have fluctuated during the last period, with a significant decline in buying and selling in goldsmiths’ shops, according to Naguib.
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