Saeed Imbabi, a member of the Gold Division of the General Federation of Chambers of Commerce, revealed the latest developments in the gold market in Egypt, and the factors that can affect the setting of prices in the markets.
The state of gold in the global and local markets
Imbabi said, in a statement to the “Al-Web” portal, that the global markets for the yellow metal have witnessed a state of stability since the past three days, and the price of an ounce of gold reached 1660 dollars, as for the local markets, gold prices have already decreased, and the price of 21 karat gold in the Egyptian markets reached 1080 pounds.
Factors that affect the determination of the yellow metal prices in the markets
A member of the Gold Division continued, explaining the factors that would affect the determination of gold prices in the Egyptian markets, indicating that the global price of an ounce of gold is one of the most important factors that affect the determination of local market prices, in addition to the price of the dollar against the Egyptian pound announced in the Central Bank, adding that The supply and demand factor also has a side in influencing gold prices, but at a weak rate, indicating that some traders are manipulating prices under the supply and demand factor.
The strangeness of the Egyptian people while buying gold
Gold prices today in the Egyptian markets
A member of the Gold Division of the General Federation of Chambers of Commerce pointed to the different gold prices in the Egyptian markets, which came as follows:
24 karat gold price
The price of a gram of 24 karat gold reached 1246 pounds.
21 karat gold price
While the price of a gram of 21 karat gold was about 1080 pounds.
18 karat gold price
The price of a gram of 18 karat gold was about 935 pounds.
The price of the gold pound today in the local market
The price of the gold pound today reached 8720 pounds.
Silver price today in Egypt
Imbabi explained that silver prices revolve around the price traded in the markets, and a gram of silver in the local market is about 12 pounds, while the price of an ounce of silver is about 364 pounds.
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