Gold prices in Egypt this week witnessed a decline of about 25 pounds per gram, against the background of the significant decline in demand for gold after entering the school season and an increase in the supply of gold in the markets, which caused a noticeable decline in gold prices significantly this week, so that the gram of gold fell 21 carat, which is the most traded from 1100 pounds to 1075 pounds, at the end of the week’s trading.
Gold prices today in Egypt are at the level of 921 pounds per gram of 18 karat, while the price of 24 karat gold recorded 1234 pounds, and the price of the gold pound reached 8600 pounds, and the price of a gram of 21 reached 1075 pounds per gram in today’s trading, and these prices may witness some changes During the coming hours due to supply and demand factors.
The Gold Division of the Chamber of Commerce announced that the abundant supply of gold and the drop in demand caused this marked decline in the price of all gold bullets circulating in Egypt. Demand and purchase in turn increase the supply of gold.
The Gold Division indicated in its publication that every drop in the price of gold is considered an appropriate opportunity to buy, and that prices will not stabilize for long at their current levels, and that changes will inevitably occur, whether through changes in the global ounce or changes in the price of the currency in Egypt “the dollar” and a change In the market demand factors, so the coming hours may witness changes in gold prices.