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Egypt gold prices rise slightly this week
Gold prices in the local market increased by 0.3% during the week, with gains of 20 Egyptian pounds per gram, following a decline at the beginning of the week. The rise is attributed to the recovery of the ounce globally by 1.3%, supported by a decline in the dollar, U.S. yields, and calm oil prices, as the price of gold rebounded from its lowest level in two months. Additionally, the price of 21-karat gold reached 6,150 Egyptian pounds, with the market shifting from a premium to a discount compared to the benchmark value. Despite this, overall gains since the start of the year remain intact, even though the ounce has decreased by 25.4% from its highest level.
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