Books – Islam Saeed Saturday, October 7, 2023 01:30 PM
Today, gold prices in Egypt, Saturday, October 7, 2023, are witnessing remarkable stability at levels of 2165 pounds per gram in trading today, amid a noticeable calm in gold movements in the markets and the stability of demand for jewelry, bullion, and gold pounds.
Gold prices in Egypt today:
21 caliber records 2165 pounds.
18 karat costs 1855 pounds.
24 karat records 2474 pounds.
The gold pound is 17,320 pounds.
The Metals Division reveals the status of gold sales
Mamdouh Abdullah, a member of the Board of Directors of the Precious Metals Division in the Chamber of Metallurgical Industries of the Federation of Industries, revealed that there has been a significant decline in sales of gold jewelry during the past three weeks despite a significant decline in gold prices by more than 3%.
Mamdouh Abdullah added in his interview with “Al-Youm Al-Sabea” that the market is witnessing a state of great calm in the sale of handicrafts, as well as currencies and gold bullion, pointing out that the consumer is afraid to buy when gold is falling, even though the current time is very suitable for buying in terms of the current price. Which registers 2150 to 2160 pounds.
A member of the Board of Directors of the Metals Division indicated that the consumer tends to buy with a movement towards an increase in the price of gold, which has not happened in the recent period, which has reduced the tendency of consumers to buy, anticipating the return of popularity to the markets soon.
Mamdouh Abdullah confirmed that from the second half of July until approximately mid-September, there was a boom in the movement of buying gold in Egypt, and the trend began to buy gold jewelry instead of gold bullion and pounds.
2023-10-07 10:30:00
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