The Egyptian Central Bank's newest report revealed price of a pound of gold witnessed an increase at the rate of 4.3 percent in May compared to April. The price of a pound of gold is worth almost 2091.1 EGP (U.S. $351). The report mentioned the price of gold caliber 21 reached 249.5 EGP (U.S. $41.88), and caliber 18 reached 213.9 EGP (U.S. $35.9). It should be noted the ounce of gold achieved a historical record yesterday, since its price passed U.S. $1,630, under the shadow of the U.S.'s development disappointing numbers and the stumbled discussions around the American debt crisis. The price of an ounce of gold reached U.S. $1,638.80, a historical record, the gold ounce used traded by U.S. $1,629. The gold is considered the sanctuary for traders under the anxious atmosphere of the economic level, especially since the U.S. government announced the disappointing development numbers. A pound equals to approximately 0.4 kilograms while an ounce equals to approximately 28.3 grams.
