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Gold prices experienced stability during trading on Saturday.
Gram 21 scored around 800 pounds, steady against yesterday’s prices, which closed at the same levels, according to Naguib Club, former secretary of the Cairo Chamber of Commerce’s Gold Sellers Division.
According to Naguib, the price of the 18-karat gram was recorded at around 700 pounds, and the 24-karat one recorded around 900 pounds, and the pound of gold stood at 6,350 pounds.
Gold prices have fallen by around £ 40 for the past two weeks.
World gold prices closed last week with a slight decrease of 0.12%. According to data from the Bloomberg agency, gold prices at the end of the day yesterday reached $ 1838.8 an ounce.
Since the beginning of this year, gold has continued to rise locally, with investors buying the yellow metal as a safe haven, amid fears over the fallout from the Corona virus, in addition to the political turmoil the region has suffered recently.
The price of gold in the local market is affected by the change in global prices, in addition to the fluctuation of the price of the dollar, the higher the price of the green currency, the higher the price of the yellow metal.
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