The General Division of Gold and Gold Works of the General Federation of Chambers of Commerce, headed by Engineer Hani Milad, announced a drop in gold prices in Egypt below a thousand pounds per gram of 21 karat, which is the best-selling in Egypt for the first time since March 21, 2022, once morest the background of a decline in the global price of gold.
Gold prices today:
Caliber 21: 997 pounds.
Caliber 24: 1139 pounds.
Caliber 18: 854.5 pounds.
Caliber 14: 666.5 pounds.
An ounce: $1,845.
Engineer Hani Gayed, Head of the Gold Division, said that the global gold markets are now awaiting the announcement of US interest rates, which have a significant impact on gold trading and the volume of demand for the yellow metal, which of course affects the movement of gold in the Egyptian market.
He pointed out, in exclusive statements for the seventh day, that the drop in gold prices in Egypt below 1000 pounds per gram for the first time since last March 21 is an indication of the decline in speculation on the dollar, and the same is related to supply and demand factors.
