Hani Gaid, head of the gold division in the Chamber of Commerce, revealed that gold prices A short while ago, the highest price point in history was recorded at 1145 pounds per gram of 21 karat, which is the most traded in the market, a reference to the reason for the significant rise in gold, at a value of 20 pounds now, despite the closure of the global stock exchange, to a turmoil in supply and increased demand in the market.
“Good” added, in statements to “The Seventh Day”, that the prices of 18 karat gold recorded 980 pounds per gram, and the price of 24 karat reached 1308 pounds per gram, which are historical and unprecedented levels for gold in Egypt, and the price of the gold pound reached 9160 pounds per gram.
The head of the Gold Division indicated that the supply of gold is currently less than the demand, and there is a decline in imports, and this has caused significant price increases today, despite the “screen” being stopped, which is the global stock exchange on which gold is priced.
He explained that there are several factors that control the movement of the price of gold in the Egyptian market, most notably the price of an ounce of gold on the international stock exchange, supply and demand factors, and thirdly, the movement of the dollar in the Egyptian market.