The end of the day’s dealings witnessed a great shock to many investors, as the price of gold bullion declined significantly during the end of today’s trading, Thursday, December 8, so that the 50-gram gold ingot lost approximately 3450 pounds, compared to the prices of the beginning of today’s trading, which witnessed a rise in gold prices. Gold is a safe haven for many investors in Egypt.
The price of a 50-gram gold bar collapsed today, Thursday, December 8, at the end of trading
According to the Gold Division, the goldsmiths market witnessed a boom in the buying and selling movement compared to the past days, and the Gold Division indicated that the prices of gold bars were recorded today at the end of the following transactions:
- The 1-gram gold ingot recorded today 1897 pounds, equivalent to 62.24 US dollars.
- The 2.5-gram gold bullion recorded today 4742.5 pounds, equivalent to 148.54 US dollars.
- The 10-gram gold ingot recorded today 18,970 pounds, equivalent to 581 US dollars.
- The 20-gram gold ingot recorded today 37940 pounds, equivalent to 1155.4 US dollars.
- The 50-gram gold ingot recorded today 94,850 pounds, equivalent to 2,868.88 US dollars.
- The 100-gram gold bar recorded today 189,700 pounds, equivalent to 5,726.45 US dollars.
The price of a gram of gold today
The Gold Division announced a decline in the value of a gram of gold during the end of the day’s trading in the local market and goldsmiths’ shops, after a series of successive increases during the past days, and the price of a gram of 21 carat gold, the most traded in the Egyptian market, declined to about 1600 pounds, after it exceeded the level of 1800 pounds. The previous days, and according to reports revealed by the Gold Division, gold bullets recorded the following prices at the end of today’s dealings:
| Unit | The price of gold in Egyptian pounds |
|---|---|
| 24 karat | Selling 1,840 Buying 1,897 |
| 22 caliber | Selling 1,687 Buying 1,739 |
| 21 caliber | Selling 1,610 Buying 1,660 |
| 18 karat | Selling 1,380 Buying 1,423 |
| 14 karat | Selling 1,073 Buying 1,107 |
| 12 karat | Sell 920 Buy 949 |
| ounce | Selling 57,224 Buying 59,001 |
| gold pound | Selling 12,880 Buying 13,280 |
| kilo | Selling 1,840,000 Buying 1,897,143 |
| Gold prices may vary from one goldsmith to another | |
The Gold Division explained that the price of a gram of gold varies from one trader to another according to the difference in the value of workmanship, and that the price of gold in the local market and goldsmiths’ shops is affected by the movement of supply and demand, and the exchange rate of the US dollar affects gold prices in the local market.