2024/06/09

Gold prices hold steady on Saturday

Local gold prices remained stable at the start of trading on Saturday, maintaining their level for the second consecutive day after the recent decline in the most traded 21-karat gauge by about EGP 25.

Here's a quick update on gold prices according to the latest levels announced by the General Gold Division:

Price of 24-karat gold: 3600 pounds

Price of 21-karat gold: 3150 pounds

Price of 18-karat gold: 2700 pounds

Gold pound: 25200 pounds

Global gold prices:

Global gold prices stabilized on Saturday, June 8, 2024, at $2376 per ounce.

Reasons for the stability of gold prices:

The stability of gold prices in the local market is due to a balance between supply and demand, in addition to the relative stability of global gold prices. These prices reflect a state of anticipation among traders and investors awaiting further economic data that could affect market movements.

For the latest updates on local and global gold prices, follow daily market reports.