Gold prices in Egypt witnessed a strong decline during the past few days; As one gram lost an average of approximately 500 pounds.
it happened; As a result of a number of measures taken by the government, including “exempting gold coming from abroad from taxes,” in addition to “establishing a gold investment fund.”
Exemption of gold from customs
Yesterday, Tuesday, MThe Tax Authority The decision of the Presidency of the Council of Ministers has entered into force, exempting gold imports carried by those coming to Egypt from customs duties, subject to a value-added tax of 14% of the total value of gold artifacts.
The decision indicated that the value-added percentage is deducted from the original workmanship value, equal to 16 thousand pounds / 14% = 2240 pounds as a tax on the golden artifact.
Gold investment fund
Dr. Mohamed Farid Saleh, Chairman of the Financial Supervisory Authority, revealed new details about the first gold investment fund in Egypt.
added Chairman of the Financial Regulatory Authority This idea is not born today, but rather the result of a great effort, adding that the fund provides gold for investment to the citizen under the auspices of the Egyptian government.
Dr. Mohamed Farid Saleh, Chairman of the General Authority for Financial Supervision, explained that the citizen can buy any amount of gold he wants and the document is for 10 pounds, following up that this matter guarantees the citizen a real investment in gold.
The price of gold in Egypt
Dr. Nagy Faraj, adviser to the Minister of Supply for gold affairs, said that the reasons for the decline in gold prices in the markets now come after the initiative of the Ministry of Supply, and the initiative to enter gold with expatriates.
The advisor to the Minister of Supply expected more declines in the coming period, ranging between 50-100 pounds, because the price now in the market is still higher than usual.
The market is awaiting the Central Bank’s meeting, on Thursday, regarding the fate of interest rates, which are expected to be fixed, due to the slowdown in inflation rates during the past month.
The markets are also witnessing a state of caution, with expectations of a new devaluation of the pound against the dollar, within the framework of applying a flexible exchange rate. As part of the procedures for preparing for the review of the International Monetary Fund next June, to obtain a loan of $ 3 billion.
gold price today
Many citizens are interested in following up on gold prices, especially those about to get married and those wishing to invest, so Sada Al-Balad news site presents the gold price today in its service bulletin.
24 karat gold price
Today, the price of 24 karat gold recorded the highest price, at 2514 pounds.
21 karat gold price
The price of gold today, 21 carat, is the most popular, 2200 pounds for purchase, and 2180 pounds for sale.
18 karat gold price
The price of 18 karat gold today is 1886 pounds for purchase.
The price of the gold pound today
The price of the gold pound recorded today 17,600 pounds without workmanship.