The seventh day publishes the latest update in Gold prices today In the markets, where the price settled at levels of 890 pounds per gram of 21 karat, which is the most sold in Egypt, while the global price of the precious metal records 1920 dollars.
Gold prices today are 890 pounds per gram of 21 karat, and the price of 18 karat gold is 763 pounds per gram, and 24 karat records 1017 pounds per gram, and the gold pound is 7120 pounds.
Gold prices on global stock exchanges recorded unprecedented levels on Tuesday, March 8, 2022, as an ounce of gold in trading amounted to 2060 dollars, which caused the price of a gram of gold in Egypt to rise to 900 pounds, and since this date, gold began a remarkable downward journey, as it lost an ounce Gold is about 140 dollars since that date, but the price of gold in Egypt fell only 10 pounds.
The price of gold on the global stock exchange according to the weekly closing price is approximately $ 1920 compared to $ 2060, with a 7.2% drop in global stock exchanges. We did not witness a significant decline in Egypt, where 21 karat gold recorded a price of 890 pounds, with a decrease of only 10 pounds, so what is the reason for the lack of response to the price of gold in Egypt to global declines.
Hani Gayed, head of the Gold Division in the Federation of Chambers of Commerce, revealed that the gold market in Egypt is linked to the global stock exchange, but there are several criteria that affect prices in Egypt now, even if we do not witness a development in the global price, pointing out that the most important of these factors is the dollar price in the markets. Egypt, supply and demand factors, the volume of gold supply, as well as the volume of imports.
He added: Regarding the developments of the gold market in Egypt, during an interview with “The Seventh Day”, the demand for gold in Egypt is high now, and there is a decline in the import of the yellow metal, which makes the price in Egypt high now despite the global decline.