Communication gold prices In morning trading today, Sunday, December 25, 2022, its decline, with a significant increase in the supply of gold in the markets and a decrease in demand after the recent Central Bank decisions to raise interest rates by 3%, as gold prices in morning trading witnessed a decline of about 10 pounds per gram.
Gold prices today:
18 karat recorded 1404 pounds.
21 karat recorded 1640 pounds.
And 24 karat recorded 1876 pounds.
The gold pound is 13,120 pounds.
And testify gold market now A large supply of gold amid reluctance to buy due to the increase in interest rates on the pound, which contributed greatly to a drop in the price of gold over the past 72 hours, bringing the total value of the decline in the price of gold to 110 pounds, as the price of a gram of 21 carat gold decreased from 1750 EGP per gram to EGP 1,640 per gram, amid expectations from gold market followers of a further drop in the coming hours, in conjunction with the continued availability of greater gold supply.
On Sunday, the market witnessed a decline of about 10 pounds per gram, due to supply and demand factors following the Central Bank’s decisions to raise interest, which had positive effects on the markets and a state of calm and reassurance occurred, and speculation in gold stopped.
Egypt’s exports of gold, jewelry and precious stones increased by 47% during the first 10 months of 2022, to reach $1.326 billion, compared to $901 million during the same period of 2021, according to a report of the Building Materials Export Council.
Egypt exported gold, jewelry and precious stones to 37 countries during the first 10 months of this year, and Canada controlled 50.2% of Egypt’s total exports of gold, jewelry and precious stones, at a value of $666 million, compared to $500 million, with a growth of 33%.
The United Arab Emirates acquired 49.5% of Egypt’s exports of gold, jewelry and precious stones, at a value of $656 million, compared to $291 million, a growth of 125%.
Egyptian gold and precious stones exports to Turkey rose to $3 million during the period from “January-October 2022,” compared to $1 million during the same period from 2021, a growth of 73%.