Gold prices soar in Egypt

Gold prices hit a record high today, Friday, after the decision of the Central Bank of Egypt to raise interest rates yesterday, Thursday, as a gram of 21-karat gold, the most traded in Egypt, recorded around 2245 pounds.

The price of a gram of 24 carat gold was about 2,566 pounds, and the price of a gram of 21 carat gold was about 2,245 pounds, the price of a gram of 18 carat gold was about 1,924 pounds, and the price of gold a pound today, Friday, was fixed at about 17,960 pounds.

And the Monetary Policy Committee of the Central Bank decided at its meeting on Thursday, March 30, 2023, to raise interest rates by 2% (200 points) so that they become 18.25%, 19.25% and 18.75% on deposits, overnight loans. , and the price of the main operation of the Central Bank, respectively, with an increase in discount and lending rates to 18.75%.

Source: Al-Masri Al-Youm.