Gold Rebounds Above $4,000 as Expert Reviews Price Swings

Gold has rebounded above $4,000 an ounce following a decline below that level last week, according to gold and jewellery industry expert Dr Nagi Farag.

In televised remarks, Farag said the drop was followed by a rise of more than $65, bringing the price of an ounce to around $4,060 at the time of his comments.

Farag discussed the rapid movements in gold prices internationally and in Egypt. The figures he cited described the global price per ounce, rather than local retail prices.

The rebound has renewed attention on whether gold can sustain its gains. However, the summary of Farag’s remarks did not include a specific price forecast or a timeframe for further increases.