Gold prices continued to rise for the third day in a row in the local markets, due to the increase in the ounce on the global stock exchange, in light of investors ‘appetite for the yellow metal to hedge with the increasing rates of Corona epidemic, and the central banks’ approval of a stimulus package to support the economy.
Saeed Imbabi, Executive Director of the I-Sagha platform for selling gold and jewelry, said that gold prices rose by 5 pounds during Wednesday’s trading, to record 21 gauge at 849 pounds, and an ounce of 1956 dollars.
He added to the “Stock Exchange” that a 24-karat gold gram recorded 970 pounds, and 18 karat records 728 pounds, and the price of a pound of gold reached 6792 pounds.
And he expected the continuation of the rise of gold, with investor fears of high inflation rates due to the stimulus packages provided by central banks to overcome the Corona crisis. He said that gold prices could reach new historical rates in which an ounce would exceed the level of $ 2,200.
The article The rise in gold prices … and 21 gauge, at 849 pounds, was written in the Al Borsa newspaper.