Written by Islam Saeed Thursday, January 4, 2024 08:24 PM Shahada gold prices In Egypt, in evening trading on Thursday, it fell by about 10 pounds after the offering of a new certificate in government banks with a return of 27% in the National Bank and Banque Misr, and the price of gold fell from 3,200 to 3,190 pounds per gram of 21 carat, which is the best-selling gold in Egypt.
Gold prices today, Thursday
18 karat weighs 2734 pounds
14 gauge costs 3190 pounds.
The impact of the 27% certificate on the gold market
A large portion of buyers will turn to certificates to provide a fixed return on a regular basis, but there is another portion that will turn their money into gold with the aim of preserving the value of their money from the risks of inflation and currency depreciation.
Over the past two years, gold has proven to be the best investment and the best way to preserve the value of the currency. In 2022, it rose gold price By 852 pounds per gram of 21 carat, an increase of 106.7%, and in 2023, gold rose by 1,480 pounds per gram, an increase of 87.5%, according to Gold Billion.
Technical analysis explained that the new 27% certificates will reduce gold’s share of the cash that will be pumped into the markets, but in the end everyone who is not interested in obtaining a regular and periodic return from their money will turn to gold to preserve the value of their money.
Information about new certificates
The duration of the certificates is only one year, and the return on the first certificate reaches 27%, which is disbursed at the end of the year (the return is added to the original amount of the certificate at the end of the year). The return on the second certificate reaches 23.5%, and the return is disbursed on a monthly basis.
The minimum amount for purchasing certificates is 1,000 pounds and can be doubled with no maximum limit. They are issued to natural individuals or minors, Egyptians or foreigners. It is also possible to borrow against their guarantee, and credit cards can be issued with the guarantee of these certificates. The certificate can also be retrieved after 6 months.
2024-01-04 18:24:00
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