IhabWassef, member of Gold Division of the General Union Chamber of Commerce, said that gold prices were swinging up and down by the end of this week’s trading. This fluctuation in gram price is a result of the great recession and low consumers’ purchasing power in global markets. Gold Prices were also instable during this week’s trading because of the high dollar exchange rate in parallel markets.
The 18-carat recorded EGP 255, the 21-carat recorded EGP 297, while the 24-carat recorded EGP 340. The price of a gold pound reached EGP 2376, he added.