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The shock shocked citizens after the unprecedented rise in gold prices after a 9-pound increase over the 21-gauge price during the session, but this increase was preceded by a further increase at the beginning. transactions that caused a jump of 20 pounds compared to prices on Tuesday, August 6, 2019.
The price of a gram of 21 carat gold at around 669 pounds on Monday, versus 689 pounds at the end of trading today.
Reasons for the high price of gold
Dr. Wasfi Amin Wbadef, head of the General Division of Jewelry and Jewelry at the Federation of Chambers of Commerce, said the rise in gold prices today is unprecedented.
Wasif said during a phone interview with the show "Today" presented by the press Sarah Hazem, aired via the satellite channel "dmc", that the price rise of the "I" was announced. gold was not only local, but global.
The head of the General Division of Jewelery and Jewelry, Federation of Chambers, said the price of an ounce of gold on global stock exchanges has risen like never before, where the price of the gold 39 ounce was 1470 dollars and reached 1510 dollars an ounce, which means that the gram of gold in the domestic market remained at 686 grams of 21 carats.
He added that all markets in the world are pulling their prices from world stock prices and that "we have economic problems between America and China and problems in the Strait of Ormuz because of the Iran and its tankers ".
He explained that all this is in the rise in gold prices, pointing out that gold prices are affected by the political and economic situation.
Expected prices
Amir Rizk, a member of the Gold Traders division, said the price of one gram of 21-carat gold is expected to reach 1,000 pounds in three months.
He added during a phone interview with the show "happen in Egypt" presented by Sherif Amer media to the screen "mbc Egypt", as the price increase of the The result was tariffs, the US tax system and its impact on the global gold market, underlining that US President Donald Trump, who raised Chinese export taxes by 10%, caused the crisis.
He said that one "gold mbad measurement units" has reached the price of 1430 dollars, and nowadays reaches 1500 dollars per ounce of caliber 21 grams, a terrible increase .
"The gold was 640 pounds per gram of caliber 21 and reached 685, hoping that the increase in D within three months would reach 1,000 pounds".
He pointed out that there was a major recession in the market and that "the people of Da Hechli were so numerous in the profession Zip", and he predicted that prices would come back to what they were in the past, because China would not sit idly by.
The price of gold has risen from 1% today to the highest level in more than six years in the absence of any sign of a decline in the trade war between China and the United States which boosted investors' appetite for safe haven badets.
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