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Gold prices rose in the local market by 8 pounds per gram after the increase in global prices with the resumption of work on the global stock exchanges, where a gram of 21 carat gold scored about 833 pounds, while the price of 18 grams reached about 833 pounds.
The price of a gram of 24 carats rose to about 952 pounds today, while the price of a pound of gold reached about 6665 pounds, while a gram of 14 carat gold reached about 714 pounds.
In the global market, the price of an ounce rose to 1910 dollars compared to 1898 dollars on Friday evening.
Amir Rizk, a member of the Gold Dealers Division of the Federation of Chambers of Commerce, said that there is a noticeable increase in the price of gold at the beginning of this week’s transactions after the frequent news of an increase in cases of corona in Europe, which raises investor concerns
He indicated that gold is considered one of the safe havens in light of the decline in the performance of the global economy with fears of the second wave of Corona with the winter season.
Rizk explained that the decline in interest rates in banks is one of the reasons for the increase in the price of gold in the local market
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