testified Gold prices in evening trading Today, Tuesday, a new fall in the price of gold by around 10 pounds, to register 21 carats, or 1550 pounds per gram best-selling for the first time since early this December, amid great economic optimism after the announcement of concessions for the release of goods and a significant drop in the price of the dollar in the parallel market, as well as an increase in the supply of Gold in the markets due to the cessation of speculation.
Gold prices today:
18 karat registered 1329 pounds.
21 carats, record 1550 pounds.
And 24 carats registered 1771 pounds.
And the gold pound is £12,400.
Ehab Wassef, President Gold Division And the production of precious metals in the Federation of Egyptian Industries, in response to the Minister of Supply, Dr. Ali Al-Moselhi, responding to the division’s proposals to advance the Egyptian gold industry by canceling the valuation tax on exports, which was been a barrier for years to increased exports of manufactured gold to global markets; Opening promising horizons for Egypt to develop into a regional center for the production and trade of gold and jewelry.
Ehab Wassef, head of the gold and precious metals production division of the Chamber of Metallurgical Industries, said the assessment commission had been an obstacle in previous years to the increase in state exports of manufactured goods and led to weak competitiveness of manufactured goods. gold in global markets, and prompted workers in the sector to export gold as a commodity without
By achieving added value, which is what the country has lost with it in dollar revenue.
Wasef praised the role of Minister of Supply, Dr. Ali Al-Moselhi, Engineer Ahmed Samir, Minister of Trade and Industry, and Major General Ahmed Suleiman, Head of Stamps and Weights Authority, for having met the requirements of the division. Support the gold and jewelery industry, which had applied since its establishment, first of all the elimination of the valuation fee, which was around 1% of the value of the work, indicating that the positive signals of the decision on the sector they were the conclusion of the first export shipment to an Arab country.
Wasef explained that the legislative amendment to cancel the valuation fee will be presented to the parliament for official approval in the coming months, stressing that its removal shows the government’s intention to provide all support to the gold industry and of jewellery, after the industry demonstrated its ability to be one of the tributaries of hard currency for the country, especially in light of the high global demand for gold as a safe haven for investments.
Wassef went on to say that the division will work during the next phase to provide all support to gold producers to develop the gold manufactured industry and upgrade their designs in line with global markets after the support provided by the state by removing the commission. assessment, indicating that the Egyptian gold artifacts have promising export opportunities in Arab and European markets, and the state is projected to achieve annual revenues estimated at around $4 billion within a short period.
Wassef hinted that, in conjunction with the removal of the valuation commission, the division has held periodic meetings with state officials to make the most of the decision to cancel the valuation commission, increasing gold export earnings as soon as possible to put Egypt in the position it deserves in the precious metals and jewelery industry, and the last of these meetings was with Major General Ahmed Suleiman, head of the Weights and Analysis Authority, in which they looked at ways authority to advance industry, regulate markets, and stimulate export operations.
