CAIRO: The price of gold in Egypt has settled, according to Ehab Wasef, a member of the gold and jewelry division in the Federation of the Egyptian Chambers of Commerce. The price of 21-carat gold has risen to 294 EGP per gram (U.S. $49.1), 18-carat gold rose to 252 EGP (U.S. $42.0) per gram, and 24-carat gold rose to 363 EGP (U.S. $60.6) per gram and the Egyptian gold pound rose to 2,357 EGP (U.S. $394). Wasef told Youm7 that gold prices settled due to the settlement of international gold prices over the past two days, which impacted the local Egyptian market. He also said that the gold market witnessed a recession after Eid al-Adha, and that the global gold price reached U.S $1,770 (10,583.63 EGP).