Arab Finance: Gold prices extended their decline in Egypt on Thursday, July 16th, mirroring lower global gold prices during the day's trading.
Globally, spot gold traded at about $4,000.40 per ounce for buying and $3,999.80 for selling, while the international price of 24-karat gold stood at around $128.63 per gram for buying and $128.61 for selling, according to Dahab Masr data as of 3:48 pm Cairo time.
In the local market, 24-karat gold was priced at EGP 6,644.25 per gram for buying and EGP 6,569.82 for selling.
Meanwhile, 21-karat gold, the most widely traded in Egypt, fell to EGP 5,814.30 per gram for buying and EGP 5,749.17 for selling, down from Wednesday's levels.
