witnessed gold prices In Egypt today, it fell by about 40 pounds in all calibers circulating in the market, during evening trading, to drop 21 caliber, which is the best-selling in Egypt, from 1210 to 1170 pounds per gram, after prices recorded record levels in the past days.
Gold prices today:
The price of 18 karat gold recorded 1003 pounds.
The price of 21 karat gold recorded 1170 pounds.
The price of 24 karat gold recorded 1337 pounds.
The gold pound is 9360 pounds.
Andrea Tadros, a member of the Board of Directors of the Gold Division, ruled out the rise of gold in the coming period to levels of 1500 pounds, as he tried to promote some, explaining by saying, “The crisis of the gold supply will disappear during the coming period, as well as strong measures from the state to control dollar prices, and we have witnessed clear stability in dollar prices. With the opening of trading this week, despite the rumors of a new currency devaluation this week, all these indicators limit the significant rise in gold.”
He said that what happened in the markets is very normal because the supply of gold is less than what is required, and that the dollar’s recent move has caused record levels of gold to be achieved at a price that exceeded 1,200 pounds for the first time.
Regarding the future of prices, Andrea believes that gold prices in Egypt and the world cannot be judged in light of the continuation of the Russian-Ukrainian war, as well as the continuation of inflation waves in the world, which affected all countries, and given that gold is one of the most important means, its price will remain coherent until the markets calm down. “.