Gold prices today:
24-karat gold: EGP 5,200 per gram
21-karat gold: EGP 4,550 per gram
18-karat gold: EGP 3,900 per gram
Gold Pound: EGP 36,400
Egypt is working to become a regional hub for the gold
industry by importing raw gold and then refining and re-exporting it. According
to the Gold Division, imports of raw gold increased significantly in May,
highlighting this effort.
According to a weekly report from the Gold Division, imports
of non-monetary raw gold forms surged by 199.1% last May, reaching $71.04
million compared to $23.75 million in the same month last year. This represents
an increase of $47.29 million.
Globally, gold has been gaining for the past two weeks, largely due to increased demand for a safe-haven asset amid ongoing global trade tensions, and expectations of future interest rate cuts.