Egypt's gold reserves rose 3.3 per cent to $14.088 billion in August from $13.639 billion in July, according to provisional data released by the Central Bank of Egypt (CBE) on Sunday. The rise in gold holdings comes alongside a broader gain in net foreign reserves, which rose to $49.251 billion, up 0.44 per cent month-on-month. Foreign currency holdings went down to $35.122 billion from $35.216 billion. Gold continues to be a key component of Egypt's reserve assets with the latest increase driven by higher international prices and the central bank's efforts to diversify holdings. The country's reserves have also been supported in recent months by multilateral financing, stronger remittance inflows and a recovery in tourism. Attribution: Amwal Al Ghad English Download