Gold prices in Egypt rose today by 50 pounds at the beginning of trading, once morest the background of a continuous movement in the price of the dollar, to record 21 karat gold, which is the main caliber of 1075 pounds per gram, compared to 1025 pounds per gram.
Gold prices today
18 caliber records 921 pounds
21 caliber records 1075 pounds
24 karat records 1228 pounds
The gold pound is 8600 pounds
During the first day of the dollar’s price movement of regarding 130 pounds per gram due to the high price of the currency in Egypt, 21 karat gold, which is the best-selling in Egypt, recorded 1025 pounds, the highest level for gold in history, while the global price of the yellow metal rose at 1925 dollars, a price that is To change, while the Gold Division confirms that the currently recorded prices are the highest in the history of the metal and the first time the markets have witnessed such developments, according to Hani Gaid, head of the Gold Division.
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”: that 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 despite the global decline.
In the same context, Ihab Wassef, head of the Metals Division in the Federation of Industries, confirmed that the past days witnessed a high demand for gold in Egypt, with the continued movement in prices, noting that the dollar factor is a major influence on the trading of the yellow metal in Egypt, and that the coming period May see further price developments.
He pointed out that the global price is now no longer the main influence on gold, especially in a period when we witness the price of the dollar moving more than once a day, so the market may meet some developments in prices, which is offset by an increase in investment demand for gold.
