Gold prices witnessed a rise this morning, Wednesday, by regarding 10 pounds, and a gram of 21 carat gold, which is the best-selling in Egypt today, recorded 1475 pounds per gram without any industrial addition, following a significant rise in the past days with the tendency of consumers and owners of capital to hedge once morest a drop in currencies.
Gold prices today:
18 karat recorded 1264 pounds.
21 karat recorded 1475 pounds.
24 karat, a record of 1686 pounds.
The gold pound is 11,800 pounds.
The total rise in gold prices at the end of last week reached 160 pounds in the Egyptian market as a result of the high demand for gold in the market and the decline in supply.
George Abdullah, a member of the Gold Division, said that gold prices are affected by several factors, including supply and demand, the availability of ore, the dollar price, and the international price of gold, and changes in these factors make gold constantly changing.
He added, in exclusive statements, that the precious metals industry needs to import production requirements, all of which are not local, and these production requirements have increased significantly in recent times with the continued movement of the dollar, including, for example, “wax, rubber, brushes, fries, all of which are imported,” stressing that The market is not stable in the current period, and the factories bear many burdens as a result of the continued payment of labor costs and monthly obligations, with a continued noticeable decline in the sales of the employed, and this undoubtedly reflected in the markets and prices.
