Witnessed The price of the gold pound Today, Saturday 17 December 2022, it has fallen by around £120, so that the gold pound has dropped from £15,000 to £14,880 in today’s trading as the precious metal continues to move in the Egyptian market.
Osama Al-Jalla, secretary of the Gold Division of the Chamber of Commerce, says the price of the gold pound is according to the latest 14,880 pounds without adding the costs of the factories, after the recent increases in the price of gold in the markets, indicating that The King George Sovereign is the most famous in Egypt, as the market depends on transactions on the Gold Sovereign bearing the image of King George.
He added that more than 98% of the gold pounds circulating in the Egyptian market bear the image of King George, and this is due to a historical legacy, as Egypt was a British colony, which meant that the pound approved in Egypt bore the image of King George, indicating the need to have a stamp on the gold pound, i.e. it is stamped like worked gold, and the workmanship of the pound is different according to the manufacturing companies.
The Secretary of the Gold Division indicated that the gold pound weighs 8 grams in Egypt of 21-karat, and there is no pound of 18-karat or 24-karat gold in the Egyptian market.
When asked about the possibility of buying gold from England and selling it in Egypt, Osama Al-Jala said that the gold pound in England is 22 carats, not 21 carats, and gold pounds are brought by English kings , whether it’s King Edward or George and Queen Elizabeth, which has 5 forms of the pound.
He explained that the gold sovereign is not named after manufacturers’ names, so the King George gold sovereign is one for all manufacturers, unlike bullion which can be named after manufacturing and manufacturing companies, pointing out that a Some major firms have issued gold sovereigns in the recent period with Islamic and Christian and Pharaonic shapes, designs and images, but it is not as popular as the gold sovereign bearing the image of King George.
Gold prices today in Egypt1594 pounds was recorded for 18 karats, and 21 karat gold recorded a price of 1860 pounds per gram, and 24 karats reached a price of 2126 pounds, and finally a pound of gold 14880 pounds and an ounce of gold 1794 lbs
