Gold prices rose today, Monday, December 28, 2020, at a value of 5 pounds, as the 21-carat gold, which is the best-selling in Egypt, recorded 822 pounds per gram, until the drafting of these lines, with the first day of the week in the Al-Sagha market after trading stopped yesterday, Sunday.
Gold prices today in Egypt:
Caliber 18 scored 705 pounds.
Caliber 21 recorded 822 pounds.
Caliber 24 recorded 939 pounds.
The gold pound is 6546 pounds.
Gold ounce, $ 1885.
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Mohsen Fawzy, one of the gold producers in Egypt, revealed that wholesale gold sales declined by 30% this year compared to 2019, due to the decline in consumer demand due to the Corona virus pandemic.
He added, in statements to “The Seventh Day,” that factories witnessed almost a halt in selling gold to retailers during the period from mid-January to May 2020, and this period was the height of the Coronavirus pandemic, and a complete cessation of network parties and weddings, which made demand decline dramatically. .
Mohsen Fawzy indicated that retailers were unable to buy gold from the producing factories during the aforementioned period, which is mid-January to May 2020, but the market moved slightly during the period from June to the end of October 2020.
Fawzi said, “Overall, this year was very difficult for gold producers, as well as merchants, due to the drop in demand at very large rates, in addition to the high prices, but we are counting on the return of things to normal in 2021, if the Corona virus vaccine proves its effectiveness.”
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