Witnessed The price of the gold pound Today, Saturday, December 17, 2022, it fell by about 120 pounds, so that the gold pound fell from 15,000 to 14,880 pounds in today’s trading, with the continued movement of the precious metal in the Egyptian market.
Osama Al-Jalla, secretary of the Gold Division in the Chamber of Commerce, says that the price of the gold pound is according to the last 14,880 pounds without adding the costs of factories, after the recent rises in the price of gold in the markets, indicating that the King George pound is the most famous in Egypt, as the market depends on transactions on the pound. Gold bearing the image of King George.
He added that more than 98% of the gold pounds circulating in the Egyptian market bear the image of King George, and this is due to a historical legacy, as Egypt was a British colony, which made the approved pound in Egypt bear the image of King George, pointing to the necessity of having a stamp on the gold pound, i.e. It is stamped like worked gold, and the workmanship of the pound differs according to the producing companies.
The Secretary of the Gold Division indicated that the gold pound weighs 8 grams in Egypt of 21 karat, and there is no gold pound of 18 karat or 24 karat gold in the Egyptian market.
When asked about the possibility of buying gold from England and selling it in Egypt, Osama Al-Jala said that the gold pound in England consists of 22 karat, not 21 karat, and the gold pounds are carried by the English kings, whether King Edward or George and Queen Elizabeth, which has 5 forms of the pound.
He explained that the gold pound is not named after the names of the manufacturers, so the King George gold pound is one for all manufacturers, unlike the bullion that may be named after the producing and manufacturing companies, pointing out that one of the major companies issued gold pounds in the recent period bearing Islamic and Christian shapes, drawings and pictures. And pharaonic, but it is not as popular as the gold pound that bears the image of King George.
Gold prices today in Egypt1594 pounds were recorded for 18 karat, and 21 karat gold recorded a price of 1860 pounds per gram, and 24 karat reached a price of 2126 pounds, and finally a gold pound 14880 pounds, and an ounce of gold 1794 pounds