Gold in Egypt Falls 105 Pounds Per Gram in a Week

Egyptian gold prices fell during the week ending October 3 as the global ounce declined, with 21-karat gold losing 105 pounds per gram.

• 21-karat gold in Egypt dropped from about 6,240 to 6,135 pounds per gram between September 28 and October 3, a 1.68 percent decline, iSagha reported.
• The global gold ounce fell from about 4,177 to 4,141 dollars over the same week, a decline of roughly 0.86 percent.
• The US economy added 29,000 jobs in September, with unemployment holding at 4.2 percent, data released on October 2 showed.
• The dollar traded at about 52.27 pounds for buying and 52.37 for selling at most Egyptian banks on October 3.
• The 21-karat price closed at 6,125 pounds per gram, a weekly drop of 115 pounds, marking a second consecutive weekly decline.
• Gold in Egypt rose about 25 pounds per gram at the start of Sunday's morning trading, with 21-karat reaching 5,145 pounds.
• The gold pound coin reached 49,160 pounds, while international metal exchanges stayed closed for a public holiday.