2023-07-01 10:25:00
01:25 PM Saturday 01 July 2023
Books – Mustafa Eid:
Gold prices in Egypt jumped during the first half of this year by 36% compared to the end of last December, coinciding with the decline in the price of the pound and the rise in the global price of gold.
And the price of gold in Egypt reached 2285 pounds per gram of 21 karat in transactions yesterday evening, the last days of last June, compared to 1680 pounds at the end of last December, an increase of regarding 605 pounds.
This comes following the gold price recorded an increase of regarding 5% during the first half of this year compared to the end of last December, to reach regarding $1919 per ounce (31.1 grams of 24 karat), at the end of yesterday’s trading.
This coincides with the fall of the pound, so that the price of the dollar increased by 24.9%, bringing the average price in banks to 30.84 pounds for purchase, and 30.94 pounds for sale, according to Central Bank data.
This comes despite the decline in the price of gold during the last two months, as reliance on the price of the dollar on the black market is the most likely for merchants, which increased significantly in April, and with it the price of gold in Egypt rose, recording record levels, with a 21-carat gram reaching regarding 2800 pounds.
In the following interactive chart, Masrawy monitors the development of the gold price in Egypt during the first half of 2023, according to data collected by Masrawy, according to gold dealers.
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