Will gold prices in Egypt continue to rise?

Goldsmiths expert Amir Rizk told Al-Masry Al-Youm that “All expectations point to an upcoming increase due to the increase in the global price of gold. It is expected that an ounce will increase globally to US$2,300-2,400, and accordingly the price of gold in Egypt this year will be affected in the coming days, as a gram of 21-carat gold will reach LE3,000.”

Speaking about the expectations of the gold price in Egypt this year, Rizk indicated that the increase is linked to the meeting date of the Central Bank of Egypt on May 18, as the price of gold in Egypt is determined based on the price of the US dollar in parallel markets.