Gold prices today:
21 carat records 890 pounds per gram.
Carat 18 records 763 pounds per gram.
24 carat records 1017 pounds per gram.
The gold pound is 7120 pounds.
Gold Division: No increase in the prices of goldsmiths’ manufacturers
Manufacturing Division confirmed gold And the precious metals of the Federation of Egyptian Industries, it seeks to support the national gold industry, and raise its competitiveness, whether in the local or global market, which prompted it to agree with local gold manufacturers not to increase the prices of workmanship.
Ihab Wassef, Chairman of the Board of Directors of the Gold and Precious Metals Manufacturing Division, said during a press release, that we have an integrated strategy to support the gold industry and double the volume of exports of gold jewelery within the state’s plans to raise its exports to $100 billion annually. Therefore, the Division decided, in agreement with the major gold manufacturers in Egypt, not to increase the prices of workmanship during 2022, despite the increase in production costs and the wages of workers on them, which will support the competitiveness of Egyptian goldsmiths once morest their global counterparts.
Wassef pointed out that the decision also comes in the interest of the division not to charge the prices of goldsmiths a new increase in prices so that the goldsmiths market does not suffer stagnation in sales and the goldsmiths can compete with the importer in the local market, especially since gold prices globally have been subjected to successive rises in The geopolitical tensions that the world is exposed to remained, which was reflected in the increase in prices in the local market to unprecedented levels.
The Gold and Precious Metals Manufacturing Division held its first board meeting with all of its members, which resulted in the issuance of several recommendations; To support the gold industry, it included the permanent exemption of gold and silver jewelry upon export from applying value-added tax upon export instead of recovering it following the completion of the export process, reducing the appraisal fee imposed on gold jewelry exports by the Stamps and Scales Department to 0% from 0.5%, and working on developing weights The skills of workers in the goldsmiths industry, by expanding the holding of training courses for students of the College of Art Education, Fine Arts and Applied Arts, to train them on the latest means of designing goldsmiths to develop. It was formulated quickly.
