Gold prices declined in evening transactions today, Wednesday, in Egypt, at a value of 16 pounds, where the 21-carat, which is the best-selling in Egypt, recorded 833 pounds per gram, compared to 849 pounds per gram this afternoon.
Gold prices today in Egypt …
Caliber 18: 714 pounds
Caliber 21: 833 pounds
Caliber 24: 952 pounds
Gold pound: 6664 pounds
World price: $ 1,906
The Precious Metals Division revealed that the imprinted gold in Egypt declined by 30% during the year 2020 due to the Corona virus, and the sales rates decreased significantly, explaining that all gold jewelry circulating in Egypt is stamped, and it is not allowed to trade any gram of gold without stamping.
She added that stamping gold is a protection for the final consumer, and whoever buys non-stamped gold is exposed to the dangers of a monument, and the best-selling caliber is 21 due to the multiplicity of its formations, spread in all governorates of the Republic, and 99% of the gold in circulation is of the 21 karat.
She emphasized that a large number of Egyptians went to buy gold after the interest rate cut recently, but the purchase was towards bullion, which witnessed an increase in sales of more than 50% compared to 2019, and many companies have devoted entire production lines to the production of bullion.
She indicated that the price of an ounce of gold never stabilizes for a long time, and it is not possible to expect a specific ceiling for the rise in prices, and so far the world has not reached a solution to the Corona virus crisis, and this foreshadows a rise in gold, in addition to the fact that the countries return to close again will make gold a safe haven for a longer period It is not possible to anticipate the situation of price increases in the coming period.
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