Islam Saeed Books
Monday, April 17, 2023 08:29 PM
Today, Monday, the General Division of Gold and Jewelry of the General Federation of Chambers of Commerce, headed by Eng. Hani Milad Gayed, monitored unjustified increases in prices in the local markets. The price of a gram of 21 karat To 2320 pounds during evening trading, up by about 60 pounds per gram from the goldsmiths’ closing prices last Saturday, despite the decline in the global price to 1996 dollars an ounce, down from the starting price of trading, which was estimated at 2004 dollars an ounce.
The division considers this increase unjustified due to the stability of the exchange rate and the relative stability in the movement of domestic demand compared to the size of the current supply.
The division advises consumers to be careful in the purchase movement until the prices in the markets are stable and commensurate with the global price and local market variables, and not to consider the current increase as an indication of a future increase in prices that may push some to increase their purchases of gold.
Regarding gold trading prices in the markets, they are as follows:
1996 ounces of dollars
21 karat 2320 pounds
24 karat 2651.5 pounds
18 karat 1988.5 pounds
14 karat 1551 pounds
The value of gold in the pound, before calculating the stamp, tax and workmanship, is 18,560 pounds.
