witnessed Gold prices in evening trading Today, Tuesday, a new decline in the price of gold by regarding 10 pounds, to record 21 carat, which is the best-selling 1550 pounds per gram for the first time since the beginning of this December, amid great economic optimism following announcing facilities for the release of goods and a significant decline in the price of the dollar in the parallel market, in addition to an increase in supply. Gold in the markets due to the cessation of speculation.
Gold prices today:
18 karat recorded 1329 pounds.
21 karat, record 1550 pounds.
And 24 karat recorded 1771 pounds.
And the gold pound is 12,400 pounds.
Ehab Wassef, Chairman Gold Division And the manufacture 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 fee on exports, which had been an obstacle for years to increasing exports of gold artifacts to global markets; To open promising horizons for Egypt to turn into a regional center for the manufacture and trade of gold and jewelry.
Ehab Wassef, head of the Gold and Precious Metals Manufacturing Division of the Chamber of Metallurgical Industries, said that the valuation fee represented an obstacle for previous years to increasing the state’s exports of artifacts, and led to weak competitiveness of Egyptian gold artifacts in global markets, and prompted workers in the sector to export gold as a raw material without
Achieving added value, which is what the country lost with it in dollar revenues.
Wasef praised the role of the Minister of Supply, Dr. Ali Al-Moselhi, Engineer Ahmed Samir, Minister of Trade and Industry, and Major General Ahmed Suleiman, Head of the Stamps and Weights Authority, for responding to the Division’s requirements. To support the gold and jewelry industry, which it had applied since its formation, foremost of which was the removal of the valuation fee, which ranged at 1% of the value of the work, indicating that the positive signs of the decision on the sector were the conclusion of the first export shipment to an Arab country.
Wasef explained that the legislative amendment to cancel the appraisal fee is being presented to parliament for official approval in the coming months, stressing that its removal shows the government’s keenness to provide all support for the gold and jewelry industry, following that industry has proven 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 investment.
Wassef continued that the division will work during the next stage to provide all support to gold manufacturers to develop the gold artifact industry, and upgrade their designs in line with global markets following the support provided by the state by removing the valuation fee, indicating that the Egyptian gold artifacts have export opportunities. Promising in the Arab and European markets, and it is expected that the state will achieve annual revenues estimated at regarding $ 4 billion within a short period.
Wassef hinted that, in conjunction with the removal of the valuation fee, the division held periodic meetings with officials from the state to make the most of the decision to cancel the valuation fee, in raising gold export revenues as soon as possible to put Egypt in the position it deserves in the precious metals industry. And jewelry, and the last of these meetings was with Mr. Major General Ahmed Suleiman, head of the Assay and Weights Authority, in which they reviewed the ways of the authority to advance the industry, achieve discipline in the markets, and stimulate export operations.
