Dr. Wasfi Wassef, advisor to the Gold Division of the Federation of Industries, blew up a surprise about the drop in gold prices after the big jumps in its prices during the recent period.
Wassef advised, in a telephone call to the “New Egypt” program broadcast on the ATC satellite channel, today, Wednesday, the Egyptians to quickly buy gold during this period.
He said, “Go down and buy with any extra money you will earn from it in the long run.” He pointed out that the main reason for the decline in gold prices is the decline in its prices on global stock exchanges.
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And gold prices fell again during the middle of trading today, Wednesday, May 18, 2022, at a value of 8 pounds per gram.
The price of a gram of 21 carat gold was recorded at 1065 pounds during the beginning of today’s trading, and then it currently reached 1057 pounds after the decrease it witnessed, after the significant increase that it had witnessed during the past weeks, so the price of the gram reached 1215 pounds.
And here is the average price of gold during the middle of today’s trading in the goldsmiths’ shops in Egypt without workmanship in grams against the pound:
Unit: The price of gold in Egyptian pounds
24 . caliber
Sell 1,197 Buy 1,208
22 . caliber
Sell 1,097 Buy 1,107
21 . caliber
Sell 1,047 Buy 1,057
18 . caliber
Sell 897 Buy 906
14 caliber
Sell 698 Buy 705
12 . caliber
Sell 598 Buy 604
ounce
Sell 37,213 Buy 37,569
gold pound
Sell 8,376 Buy 8,456
kilo
Sell 1,196,571 buy 1,208,000
Gold prices may vary from one goldsmiths to another.