Today we publish the latest update on gold prices in Egypt, which registers levels of 1700 pounds sterling per gram of 21 carats, which is the most sold in Egypt, while all the gold bullets circulating in the Egyptian market register a clear stability in coinciding with the weekly holiday for the gold market and cessation of trading on the metal.
Gold prices today:
18 carats registered 1457 pounds.
21 carats registered £1,700.
24 caliber, 1947 pounds.
14 karat registered 1136 pounds.
The gold pound is £13,600.
Mamdouh Abdullah, Member of the Board of Directors of the Precious Metals Division of the Federation of Industries, thanked the government represented by the Ministry of Supply on the sidelines of the second edition of the “Nebio” International Gold and Jewelery Exhibition, which is organized by the Authority of Assay and Weights and by the General Goldsmith and Jewelery Division of the General Federation of Chambers of Commerce for a period of 3 days as an opportunity, to respond to the requests of the executors and cancel the assessment fees on the export of manufactured gold.
He added, in exclusive statements, that the cancellation of valuation fees for gold exported overseas is an important step to support the export of manufactured gold in light of the decline in sales of manufactured gold in favor of bullion and gold pounds, in addition to that export will generate large dollar revenue during the coming period and increase the Egyptian brand abroad, offering new gold models in the industry, underlining that this step supports the pumping of new investment in the industry Of their.
He explained that President El-Sisi is eager to overcome all obstacles and avenues facing Egyptian products and open horizons for the conquest of global markets and for export, which will have an impact on the growth of the Egyptian economy, underlining that all the authorities concerned have provided support to the factories participating in the current edition of the goldsmith exhibition.
He pointed out that the Egyptian gold and jewelry industry enjoys many competitive advantages which qualify the Egyptian market as an important manufacturing and exporting hub for Arab countries and African continent countries, emphasizing that this sector caters to the needs of the local market and export to overseas markets, with unique designs that mimic the latest international models.
A member of the Board of Directors of the Gold Division confirmed that the gold manufacturing industry in Egypt has developed strongly in recent years, and the presence of Egyptian production in international markets will be followed by major expansions in factories that produce manufactured goods and then grow the name of Egypt abroad by promoting national production, which is none other than that of the major producing countries.
He explained that foreign markets, especially the Gulf, are witnessing fierce competition in quality and price between Turkish, Indian and Italian products, and the abolition of the valuation fees increases the chances of the Egyptian product to be present among them in the case where a 0.5% quality fee is still imposed for the export of gold, with companies importing the latest technology in gold and jewelery manufacturing, but charging the product with additional charges limits companies’ ability to export and open foreign markets.
