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Gold prices in Egypt saw stability at the start of trading today, Saturday December 5, 2020, after seeing a slight mid-trade increase of one pound per gram during Friday’s session , while the price of 21 karat gold has fallen in Egypt.
Gold Price in Egypt
Gold prices were recorded against the Egyptian pound today, Saturday 5-12-2020, according to trade this morning in local markets in Egypt.
Locally, gold prices continue to stabilize today for all calibers, compared to yesterday’s stock price, to record 21 karat gold, which is the best-selling gold in Egypt at 802 pounds per gram, with expectations of price changes in the coming hours.
The price of the gold pound in Egypt today stands at 6,676 pounds, weighing 8 grams, 21 karats, and the gold prices that were watched today are as follows:
- The price of a gram of 18 carat gold reaches 687 pounds.
- The price of a gram of 21 karat gold has reached 802 pounds.
- The price of a gram of 24 karat gold has reached 917 pounds.
Price per ounce in Egypt
The price of an ounce of gold is recorded at 1938 dollars; Since the beginning of November, gold prices have seen clear global swings between highs and lows, affected by global economic causes and decisions, and falling oil or further contraction of the economy. worldwide, particularly in the United States.
Economic analysts have predicted that the price of gold will rise to $ 2,000 an ounce before the end of the year, while others believe it will fall as global demand falls.
The reason for the drop in the price of gold
It is worth noting that the World Gold Council recently announced that central banks sold more gold in August 2020 than they bought to complete a year and a half of the monthly increase in gold purchases, which helped to stop the rapid rise in the price of the yellow metal.
As the price of the dollar has fallen to its lowest level in several years in the hope that a vaccine against the Corona virus will be distributed soon, as investors continue to monitor developments in the stimulus deal in America.
What depends on the price difference of gold in Egypt
Usually, gold prices in Egypt depend on the manufacture, as the price of the manufacture varies from one silversmith to another, and the average price of the manufacture and stamps in the shops varies between 30 and 65 pounds. , depending on the type of gold gauge and gold stores, and province to province and dealer to dealer.
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