Gold Prices in Egypt Rise Despite Global Decline
Published
Gold prices in the Egyptian market recorded a clear increase on Saturday morning, 31 October, which is the last day of the month. The price of a gram of 21-karat gold reached about 6,200 pounds, while the price of a gram of 24-karat gold reached 7,086 pounds, and the price of a gram of 18-karat gold reached about 5,314 pounds.
This rise came at a time when gold prices fell in international markets. Sources stated that the main reason behind the rise in prices in Egypt is the search for liquidity, meaning the need for available cash that can be used quickly.
Liquidity means the ability of a person or a market to obtain money easily and quickly. Therefore, some people turn to selling or buying gold at certain times, and this affects demand and the price in the local market.
Gold prices in Egypt change constantly during the day and over the weeks. Therefore, those who wish to buy or sell are advised to follow daily prices from reliable sources before making a decision.
Sources: العربية
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