The price of gold today continues to collapse in the middle of trading, and the gram loses 120 pounds
Gold prices in Egypt continue to decline significantly, as a gram lost about 35 pounds per gram during today’s trading, Saturday. This decline comes after the price of gold fell by about 85 pounds at the beginning of trading, compared to its level yesterday evening, bringing its total loss during today’s trading to about 120 pounds per gram so far. This decline is the latest in a series of successive declines in the Egyptian gold market in recent weeks.
The price of gold in Egypt lost more than 400 pounds per gram during the past two weeks, down from the level of 2800 pounds for 21 karat, which it recorded about 15 days ago. This decline is due to several factors, including the impact of the Corona pandemic on the global economy and the decline in demand for gold as a safe haven, in addition to the exacerbation of the political and economic crisis in Egypt, and the decline in the purchasing value of the local currency.
In an attempt to stimulate the market, the Egyptian Prime Minister, Dr. Mostafa Madbouly, issued a decision exempting some imports, which come to customs ports with passengers coming from outside the country, from customs tax and other fees, except for value-added tax, for a period of six months. It is hoped that this decision will stimulate investors and help stabilize the gold market in the future.
However, the current crisis in the Egyptian gold market still poses a major challenge for investors and citizens, and it is expected that the declines in gold prices will continue in the near future, which makes it necessary to take urgent and effective measures to stabilize the Egyptian gold market.
In a statement, the General Division for Gold and Jewelry of the General Federation of Chambers of Commerce welcomed the decision, and praised the government’s quick response to the proposals submitted by the Division to the Minister of Supply and Internal Trade in this regard.
She explained that the added tax that is calculated on gold is applied to the value of workmanship and not the value of gold based on the tax accounting protocol signed between the Division and the Tax Authority and is estimated at 14% of the value of workmanship, and it is also supposed to be collected from expatriates at customs outlets without other fees that were previously scheduled. .
She pointed out that the decision will have a direct and rapid impact on the decline in gold prices in the local markets, as it will provide the necessary raw materials to comply with the volume of demand, which has doubled compared to the same period last year, according to the estimates of the World Gold Council, which estimated the size of the Egyptian market’s demand for gold during the first quarter of this year. About 7 tons, compared to about 3.2 tons during the same period last year.
Updated: The price of gold in Egypt in goldsmiths’ shops without workmanship
| gold unit | The price of gold in Egyptian pounds |
|---|---|
| 24 karat | Selling 2,600 Buying 2,657 |
| 22 caliber | Selling 2,383 Buying 2,436 |
| 21 caliber | Selling 2,275 Buying 2,325 |
| 18 karat | Selling 1,950 Buying 1,993 |
| 14 karat | Selling 1,517 Buying 1,550 |
| 12 karat | Selling 1,300 Buying 1,329 |
| ounce | Selling 80,860 Buying 82,637 |
| gold pound | Selling 18,200 Buying 18,600 |
| kilo | Selling 2,600,000 Buying 2,657,143 |
The price of a gram of gold today in dollars
Today, the global gold price was recorded on the New York Stock Exchange, on the first day of the weekly holiday for the global stock exchange, as follows:
The price of a gram of 24 karat gold was recorded at 64.66 dollars.
The price of a gram of 21 carat gold was about $56.58.
The price of a gram of 18 carat gold was about $48.50.
The price of gold pounds today in Egypt
The price of a pound of 21 karat gold today, in goldsmiths’ shops, was recorded at 19040 pounds, and this price is equal to raw gold, without workmanship, tax or stamp, and weighs 8 grams of 21 karat gold.
Gold prices today in Egypt
Gold prices today in Egypt are as follows:
The price of a gram of 24 karat gold reached about 2697 pounds, and the price of a gram of 21 karat gold reached about 2360 pounds, and the price of a gram of 18 karat gold traded at 2022 pounds, and the price of a gram of 14 karat gold reached 1573 pounds.
The price of gold today in dollars
The price of an ounce of gold today, during the global stock market holiday, reached about 2010.88 dollars.
Gold price today in Egypt – sell
The price of a gram of 24 carat gold was about 2640 pounds, and the price of a gram of 21 carat gold was about 2310 pounds, and the price of a gram of 18 carat gold reached 1980 pounds, and the price of a gram of 14 carat gold was traded at 1540 pounds.
