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Price of gold records a notable increase
SELEIM ALI BISHOY RAMZY REYAD Published in Youm7 on 06 - 09 - 2011

For the first time in years, the price of gold rose over the price of platinum, said the Vice President of the Gold Branch of Cairo's Trade Chamber, Ehab Wasef.
He added the price of gold reached to U.S. $1,919 per ounce after it was U.S. $1,870 years ago. He told Youm7 the price of gold reached a new record, clarifying the increasing investments in gold led to the current soaring prices. He added the price of silver witnessed a notable rise, reaching to U.S. $43 per ounce.
Wasef said the price of a gram of 21 carat gold reached 313 EGP (U.S. $52.5), adding it is expected it will reach a record of 316 EGP (U.S. $53) according to the continuous increase in the price of gold. He expected a gram of 18 carat gold will reach 270.85 EGP (U.S. $45.4), while a gram of 24 carat gold will reach 361.15 EGP (U.S. $60.6).

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