The gold market in Egypt experienced a Spectacular surge this Thursday, January 29, with a price of the golden pound now over 60,000 Egyptian pounds. This progression marks a increase of nearly 10,000 pounds compared to Tuesday, January 20, date in Which the pound of gold traded around 50,880 pounds, according to data of the specialized platform iSagha

In detail, the 21 carat gold gram now stands at 7,535 pounds, against 6,360 pounds in ten days previously. The 24-carat gold gram reaches 8,611.5 pounds, while The 18-carat one is trading at 6,458.5 pounds, confirming the tension widespread across all segments of the local market.

This surge in prices is part of a bullish context on a global scale. On international markets, an ounce d'Or recorded a marked increase, earning 551.4 dollars, driven by a renewed investor interest in the yellow metal.

Interviewed by Ahraminfo, Hani Milad, chef of the gold division within the Union of Chambers of Commerce, explains this exceptional increase due to several converging factors, at the forefront which include the international geopolitical situation. “The situation The current situation and the multiplication of conflicts in the world explain a lot Part of this flight,” he said.

According to him, the American maneuvers in course, the escalation of geopolitical tensions and the threats of war against Iran increased uncertainty in the markets, pushing investors international players to turn massively to gold, considered as a stock refuge in times of instability.