“Gold Prices in Egypt Drop Following Cabinet Decision to Exempt Gold Imports”

Books – Islam Saeed

Saturday, May 13, 2023 02:39 PM

I backed off gold prices In Egypt today, Saturday, May 13, 2023, 40 pounds, after a drop of 130 pounds over the past three days, and all bullets recorded a noticeable drop at the time these prices were published.

Since the issuance of the Cabinet’s decision to exempt gold imports in semi-worked forms, as well as those intended for monetary circulation, jewelry, jewelry and their parts of precious metals, gold prices in the Egyptian market have witnessed continuous declines, and the total drop in gold in goldsmiths reached 170 pounds until the time of writing these lines.

The price of a gram of 21 carat gold, which is the most traded in the markets, witnessed a decline from 2550 to levels of 2380 pounds per gram, amid expectations of a further decline with the regular entry of gold with returnees from abroad after the abolition of all customs duties with the exception of value-added tax.

Gold prices today

24 karat records 2720 pounds

21 karat records 2380 pounds

18 karat records 2040 pounds

The gold pound is 19040 pounds

Gold ounce 2013 dollars

The decision to exempt gold

The Cabinet’s draft decision stipulates that this exemption does not apply to natural or cultured pearls, precious or semi-precious stones mounted or inlaid on jewelry and their parts..

This approval comes within the framework of the efforts exerted to achieve stability in gold prices within the markets, and to reduce customs smuggling attempts of semi-finished and occupied gold items through various customs outlets.