Gold prices up by LE7 per gram, 21 carats at LE618

Gold prices rose in the local market during trading on Wednesday by about LE7, boosted by rising global markets as investors await Federal Reserve Chairman Janet Yellen’s semi-annual testimony to Congress over the next two days.

Ehab Wassef, head of the Gold Division at the General Union of Chambers of Commerce, said the price of 21-carat gold stands at LE618, 18-carat gold at LE529.7 and 24-carat gold at LE706.25.

Future international gold delivery contracts for August increased by an added $3.87, or 0.32%, to trade at $ 1,218.57 an ounce. Future contracts for silver were up about 7 cents, or 0.46%, at $ 15.818 an ounce.

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