The price of a gram of gold in Egypt today recorded a noticeable increase by about ten pounds, then it declined a little while ago by about two pounds, to stabilize a gram of 21 karat gold, which is the best-selling in Egypt at 892 pounds per gram now at the time of drafting these lines, and this price is subject to change continuously during the coming hours, with Continuing trading on gold on global stock exchanges.
Gold prices today in Egypt..
Carat 18 recorded 764 pounds per gram
21 carat recorded 892 pounds per gram
24 carat recorded 1019 pounds per gram
The gold pound is 7136 pounds
Where did the developments of the city of gold in Egypt reached?
Major General Ahmed Suleiman, Head of the Stamps and Scales Department of the Ministry of Supply and Internal Trade, stressed that there is a great presidential interest in the speedy completion of the Gold City project, as it constitutes a qualitative leap in the production and export of Egyptian goldsmiths to global markets, explaining that the City of Gold, to be established, is one of the sides of the Egyptian strategy. To transform into a regional center for the production and export of gold to global markets, referring to Egypt’s development of an integrative strategy between the projects of the Golden Triangle cities and the new discoveries in the Red Sea Governorate and the new gold refinery project that the Ministry of Petroleum and Mineral Resources is establishing in the city of Marsa Alam to filter and approve the gold bars produced on Egyptian lands, in addition to To gold ore coming from the Arab and African markets, so that Egypt becomes the only center in the Middle East and Africa for the collection and refinement of ore, the production and approval of bullion, and the production and export of gold works.
This came during his meeting with members of the Board of Directors of the General Division of Gold and Jewelery in the General Federation of Chambers of Commerce headed by Engineer Hani Milad Gayed last week, and in the presence of Eng.
Suleiman added that Dr. Ali Al-Moselhi, Minister of Supply and Internal Trade, has issued a directive to continue consultations and receive proposals from representatives of gold production, manufacturing and trade to modify engineering models in proportion to the realistic requirements of producers.
On the other hand, Elhami Al-Kardani said that there are periodic meetings he holds with the General Division of Gold and Jewelery in the Federation of Chambers of Commerce to explain the engineering and logistical details, which will make the new city a distinguished and advanced center for the production of gold and goldware. The requirements of global markets in addition to accommodation for workers and project owners,
He added that the establishment of the central area for the sale of goldsmiths within the new administrative capital has been completed, which will be an international center for the circulation of Egyptian and international goldsmiths, explaining that commercial units will be launched in that area soon, noting that this area was established in the style of the heritage architectural style of the old Cairo markets. It will include areas specialized in selling gold works, an area for selling precious stones and diamonds, and an area for selling silver works.
For his part, Hani Milad said that the establishment of the City of Gold is a free industrial zone, regarding its establishment, a special law will be issued that will contribute to the entry of gold ore and diamond stones to the city’s manufacturing areas, which will attract many international investors to pump their investments in the new city, in addition to providing financial and procedural facilities that will constitute an important attractive factor for the local investor. Participation was the most prominent proposals of the members of the General Division of Gold to encourage large producers and owners of workshops to move and participate in the new city.
For his part, Lotfi Munib, Vice President of the General Division for Gold, said that the Division has submitted a set of proposals for all the necessary procedural, legislative and financing incentives, which will contribute to transforming Egypt into a regional center for manufacturing, trading and exporting this important international industry, especially that global markets are witnessing a rapid development of gold prices as it is considered A safe haven for governments and individuals in light of international tensions and the decline in indicators of the performance of the global economy.