Gold prices continued their losses in the Egyptian market during the recent trading, Where the prices of the yellow metal fell by 10 pounds, despite the rise in the price of an ounce in global stock exchanges from the level of 1705 dollars to regarding 1723 dollars.
The Gold Division of the Federation of Chambers of Commerce in Cairo attributed the remarkable decline in the precious metal’s prices to supply and demand factors in the Egyptian market.
However, it expected that the global price of gold would be reflected on prices in Egypt in the coming hours in the event that the global price of gold continued to rise.
The price of a gram of 21 karat gold was 980 pounds, while the price of a gram of 18 karat was worth 840 pounds, while the price of a gram of 24 karat gold reached 1120 pounds, while the price of the gold pound was regarding 7840 pounds.
These prices are not added to them, the price of gold workmanship, which some companies have set to be 7% of the price of a gram.
As for gold prices on the global stock exchange, it recorded a noticeable rise in trading on Monday, and prices began to recover from the large declines recorded at the end of last week with the record rise in the exchange rate of the US dollar globally, and the rise in the yield of US bonds.
In the Egyptian exchange market, currency rates witnessed a noticeable difference once morest the Egyptian pound, where the dollar price in the Central Bank of Egypt recorded a level of 18.82 pounds for purchase and 18.90 pounds for sale. In the National Bank of Egypt and Banque Misr, the dollar exchange rate reached 18.85 pounds for purchase and 18.91 pounds for sale.
While the exchange rate of the euro once morest the Egyptian pound reached the level of 18.99 pounds and 19.24 pounds, while the sterling pound recorded a level of 22.36 pounds for purchase and 22.67 pounds for sale.
In the Arab world, currency rates recorded remarkable stability once morest the Egyptian pound, as the Saudi riyal exchange rate recorded a level of 5.02 pounds for buying and 5.03 pounds for selling.
The exchange rate of the UAE dirham reached 5.12 pounds for purchase and 5.14 pounds for sale, while the Kuwaiti dinar recorded a level of 58.95 pounds for purchase and 61.45 pounds for sale.