Gold prices in Egypt this week saw a drop of around 25 pounds per gram, against the backdrop of a significant drop in demand for gold after the start of the school season and an increase in the supply of gold on the markets, which It caused gold prices to drop significantly this week, so that the gram of gold fell by 21 carats, which is the most traded from 1100 pounds to 1075 pounds, at the end of the trading week.
Gold prices in Egypt today are at the level of 921 pounds per gram of 18-karat, while the price of 24-karat gold has registered 1234 pounds and the price of the pound of gold has reached 8600 pounds and the price of a 21 gram has reached 1075 pounds per gram in today’s trading, and these prices may undergo some changes in the next few hours due to supply and demand factors.
The Gold Division of the Chamber of Commerce has announced that the abundant supply of gold and the drop in demand have caused this marked drop in the price of all gold bullets circulating in Egypt, the demand and purchase in turn increases l offering of gold.
The Gold Division indicated in its publication that any drop in the price of gold is considered an appropriate buying opportunity and that prices will not stabilize at current levels for long and that changes will inevitably occur, either through changes in the global ounce. o changes in the price of the currency in Egypt “the dollar” and a change in market demand factors, so in the next few hours there may be changes in gold prices.
