The gold market was inaugurated on Monday, 31 December 2018 with a slight drop of only one pound: the 21-gauge gold, the best-selling and most popular in Egypt, reached 641 pounds per gram.
The price of gold in Egypt was 641 pounds per gram, the highest price since 20 June 2018. The substantial increase in gold prices in Egypt led to a decline in sales of precious metal, which seen a recovery in 2018.
Sherif Fayek, a member of the precious metals division at the Cairo Chamber of Commerce, revealed a significant decline in gold sales over the past two weeks, coinciding with the return of gold to rise above 630 pounds per gram, emphasizing that the consumer is waiting to reduce prices to start buying.
"The rise of gold to the highest level since mid-2018, more than 6 months negatively affected sales volume in the recent period, and all retailers experience this decline, emphasizing that gold rose above 640 pounds per gram That was beyond everyone's expectations after having aroused interest in America.
Exports of jewelery and precious stones fell 42.7% from January to November 2018 to $ 1.33 billion in the first 11 months of this year, compared to $ 1.91 billion over the same period of the year. 39; last year.
The year 2018 saw a significant decline in global demand for gold, which could explain the decline in Egyptian exports, and with a price of $ 1350 to January 2018 to start a downward journey abruptly amounted to $ 1192, the precious metal saw a global reluctance due to its decline in light of the relatively high interest rates in America.
The prices of gold in Egypt as follows:
Size 18: 549.40 pounds
Caliber 21: 641 pounds
Caliber 24: 732.55 pounds
Pound Gold: 5128 pounds
World price: $ 1281
The price of gold today
The price of gold today in Egypt within the main services provided by "Day Seven" and accompanied by an analysis of market performance and sales movement of various calibrations.
Gold today in Egypt
The price of gold in Egypt can see some variations from one province to another and from one operator to another, but with values ranging from LE to LE 2 per gram, but gold producers are experiencing significant differences from one company to another and from a reseller to the other.