Gold sales in Egypt recorded a decline of 50% in January 2021, compared to the same month last year, according to what Rafat Farid, a Giza gold dealer, said, and who confirmed that the decline in gold sales came as a result of measures to confront Corona and the decrease in the number of weddings as well as the significant increase in The price of the yellow metal.
“The seventh day,” said Raafat Farid, “The seventh day”, that the market is currently witnessing a high demand for gold jewelry of light weights, whose weights range from 2 to 4 grams, of different caliber, especially 18 carat, which is now well received in the market.
He pointed out that the future of the gold price movement is unclear so far, with the approaching US plan and stimulus package estimated at $ 1.9 trillion, which affects the movement of the gold price, because the dollar is subject to constant change, as well as the continuous rise and fall of the US bond yield, which are all factors affecting the movement Precious metal.
The price of gold rose on Friday by 5 pounds from 813 to 818 pounds from 21 carat, but the prices took a way to retreat in evening dealings, with the world price of gold dropping significantly, to $ 1844, with continued speculation on gold.
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