Gold prices rose today, Thursday, in evening trading, by about 30 pounds in Egypt today, to record prices of 1530 pounds per gram of 21 karat, which is the best-selling in Egypt without adding workmanship, after a significant rise in the past days with the tendency of consumers and capital owners to hedge against a drop in currencies.
Gold prices today:
18 karat recorded 1311 pounds.
21 karat recorded 1530 pounds.
24 karat recorded 1743 pounds.
The gold pound is 12,200 pounds.
Sameh Al-Torgoman, a member of the Gold Division, said that the total increase in gold prices last week amounted to 160 pounds in the Egyptian market as a result of the high demand for gold in the market and the decline in supply.
He added, in exclusive statements, that precious metals need to import production requirements, all of which are not local, and these production requirements have increased significantly in recent times with the continued movement of the dollar, including, for example, “wax, rubber, brushes, fries, all of which are imported.”
And he stressed that the market is unstable in the current period, and the factories bear many burdens as a result of the continued payment of labor costs and monthly obligations, with a continued noticeable decline in the sales of the factory and the tendency of consumers to buy gold bars.