We publish the latest update in gold prices Today, Wednesday, after a decline of about 25 pounds, to record one gram of 21-karat gold, which is the best-selling in Egypt, to record the price of gold 1575 pounds per 21-karat, with the global price of the precious metal on the world stock exchanges, falling to 1800 dollars compared to 1820 dollars.
Gold prices today:
18 karat registered 1350 pounds.
21 carats, a record 1575 lbs.
And 24 karat registered 1800 lbs.
The gold pound is £12,600.
gold globally
Gold fell on Wednesday 28 December, impacted by pressure from the rising US dollar, but prices traded in a narrow range on the absence of new influences and as of 02:48 GMT, gold was in trading spot fell 0.2% to $1811.20 an ounce, and US gold futures contracts fell 0.2% to $1818.90 an ounce.
The dollar index rose 0.1%, which makes gold denominated in the US currency more expensive to buyers than holders of other currencies, and gold was up about $200 after hitting the level lowest in more than two years in late September, after the dollar’s attractiveness was negatively impacted by expectations that the US Federal Reserve would slow its pace Raise interest rates Raising interest rates raises the opportunity cost to hold non-interest bearing gold.
Among other precious metals, silver fell 0.3% in spot transactions to $23.98 an ounce, platinum fell 0.4% to $1015.67 an ounce and palladium it fell 0.4% to $1821.38 an ounce.
The Egyptian Gold Market
Ehab Wassef, President Gold Division And the production of precious metals in the Federation of Egyptian Industries, in response to the Minister of Supply, Dr. Ali Al-Moselhi, responding to the Division’s proposals to advance the Egyptian gold industry by canceling the valuation tax on exports, which was been a barrier for years to increased exports of manufactured gold to global markets; Opening promising horizons for Egypt to develop into a regional center for the production and trade of gold and jewelry.
Ehab Wassef, head of the gold and precious metals production division of the Chamber of Metallurgical Industries, said the assessment commission had been an obstacle in previous years to the increase in state exports of manufactured goods and led to weak competitiveness of manufactured goods. gold in global markets, and prompted workers in the sector to export gold as a commodity without
By achieving added value, which is what the country has lost with it in dollar revenue.
Wasef praised the role of Minister of Supply, Dr. Ali Al-Moselhi, Engineer Ahmed Samir, Minister of Trade and Industry, and Major General Ahmed Suleiman, Head of Stamps and Weights Authority, for having met the requirements of the division. Support the gold and jewelery industry, which had applied since its establishment, first of all the elimination of the valuation fee, which was around 1% of the value of the work, indicating that the positive signals of the decision on the sector they were the conclusion of the first export shipment to an Arab country.
Wasef explained that the legislative amendment to cancel the valuation fee will be presented to the parliament for official approval in the coming months, stressing that its removal shows the government’s intention to provide all support to the gold industry and of jewellery, after the industry demonstrated its ability to be one of the tributaries of hard currency for the country, especially in light of the high global demand for gold as a safe haven for investments.
Wassef went on to say that the division will work during the next phase to provide all support to gold producers to develop the gold manufactured industry and upgrade their designs in line with global markets after the support provided by the state by removing the commission. assessment, indicating that the Egyptian gold artifacts have promising export opportunities in Arab and European markets, and the state is projected to achieve annual revenues estimated at around $4 billion within a short period.
Wassef hinted that, in conjunction with the removal of the valuation commission, the division has held periodic meetings with state officials to make the most of the decision to cancel the valuation commission, increasing gold export earnings as soon as possible to put Egypt in the position it deserves in the precious metals and jewelery industry, and the last of these meetings was with Major General Ahmed Suleiman, head of the Weights and Analysis Authority, in which they looked at ways authority to advance industry, regulate markets, and stimulate export operations.
