By Alaa Abdelwanis
High dollar exchange value in parallel market sparked a wave of ridiculously high-priced gold, since this safe investment saw a huge turnout. This week, the wave finally came to an end.
Ihab Wassef, member of the General Union Chamber of Commerce’s Gold Division, said gold prices dropped by more than 20 pounds this week. He attributed this to the stable dollar exchange value in parallel markets and decline in gold prices internationally.
The 18-carat recorded EGP 305, the 21-carat recorded EGP 355, while the 24-carat recorded EGP 406. The price of a gold pound reached EGP 2840, and the ounce posted internationally $1245, he said.
