Browse related articlesGold prices hit the roof
Egypt: Monday, January 28 - 2008 at 10:16
Gold prices have gone through the ceiling by striking an all-time high of $980 per ounce this week, and smashing a 28-year record. Experts attribute this to oil prices breaching the $100 per barrel mark, a weak US dollar and political instability in Pakistan, reported Al Ahram Weekly. The value of gold during the first trading week of 2008 was $866.90 per ounce, after rising by 30 per cent last year to reach about $630 per ounce. Two years ago, gold was selling for less than $550 an ounce and cost $350 per ounce five years ago. Naturally, Egypt's gold market has also witnessed a boom. The price of one gram of 21 Karat gold reached LE135; 24 Karat gold rose to LE154.28; 18 Karat is selling for LE115.71 per gram.
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Amena Bakr, Senior ReporterMonday, January 28 - 2008 at 10:16 UAE local time (GMT+4)
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