Stabilized Gold prices in Egypt On the beginning of the first day of the week specified today, Sunday 29-11-2020; After the decline in the price of the yellow metal at the end of trading at the end of last week, a difference of 10 pounds at the level Goldsmiths’ shops. The price per gram is recorded from Caliber 21 The most famous in the gold market; About 780 pounds.-
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The price of a gram of the 24-carat, the highest price, reached about 891 pounds.
The price of a gram of 18 carats was about 669 pounds.
While the price of a gram of 14-carat, the lowest price and value, reached EGP 520.
The price of a pound of gold was about 6240 pounds, an ounce of gold was about 27.723 thousand pounds, and a kilo of gold was about 891.43 thousand pounds.
The value of the workmanship of gold prices varies from one goldsmith’s place to another, and according to the geographical areas at the level of Egyptian cities, as the price of workmanship and stamps ranges between 30 and 65 pounds, in addition to the type of gold bullets that determine the value of the gold factory.
Workmanship is a ratio to the value of gold between 7 and 10% of the total price of the yellow metal, where if the proportion of metals in the gold production increases, the value of the gold caliber decreases, reaching 31.1 grams as a unit of weight for gold bars and jewelry.
According to those working in the gold sector; The yellow metal is the safe haven for wealth in light of the outbreak of the Corona epidemic on international markets; Stressing that the price variation is due to the current economic climate and the high inflationary waves left by the global epidemic.
As is common, consumers resort to storing gold in times of crisis and price hikes as a store of value, more than cars and real estate, because gold does not decrease much and is easy to sell, and its value is converted into money, as the yellow metal is a safe haven for investment in the darkest economic conditions.
Global stock market indexes and analyzes, the decline in the global price of gold, attributed to investor concerns after losses in international stock exchanges, despite global drug companies hinting at reaching a drug against the Corona virus, which may contribute to the return of prices to normal.
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