The Egyptian citizen is interested in following up the gold prices in the market, especially in light of the wave of significant declines in the price of gold that began recently.
Imports of gold from abroad
Hani Milad, head of the General Division of Gold in the Federation of Chambers of Commerce, confirmed that gold karat is internationally recognized, and that each karat has a price, and that in the case of buying and selling, it is at the price of the day of sale or purchase.
And the head of the General Division for Gold added, in televised statements on the “Sada Al-Balad” channel, that the gold that will be with the expatriates will be sold in Egypt at today’s price.
In response to a question: “Is gold imported from abroad sold at the same local prices?” He said that gold is sold at today’s price, because gold is gold anywhere.
He pointed out that most of the Gulf countries deal with the same Egyptian caliber, and there are countries that use 14 karat or less, but in general the caliber is common.
And Milad said, that the gold imported from abroad will be equal to the same value of selling it at the local gold price; On the day he arrived in Egypt.
And the head of the General Division of Gold added, this evening, Wednesday, that the countries of Saudi Arabia and the Emirates deal in 21 karat gold, like Egypt; While Italy uses 18 and 14 carat gold, pointing out that the division does not depend on the stamp of gold imported from abroad.
Hani Milad, head of the General Division of Gold at the Federation of Chambers of Commerce, explained that the presence of the stamp on the gold imported from abroad makes it easier to know the karat of gold, and it is preferable that the person who will bring gold from abroad have a purchase invoice with him.
And Milad advised to bring in gold bars from abroad because they do not include workmanship, stressing that the global price of gold has reached 1970 dollars; Which helped its decline in the local market.
Gold price in Egypt
The price of an 18-carat gram fell from 2,000 pounds, to record about 1,894 today for the first time, after exceeding 2,300 pounds a few days ago, while the price of a gram of the same caliber stabilized at 1,877 pounds for sale.
And the price of a 24-carat gram today, Thursday, was recorded: 2,526 pounds, while the price of a 21-gram gram today, Thursday, was 2,210 pounds for purchase, and the price of a gram today, Thursday, 18 carat: 1,894 pounds.
Today, Thursday, the price of a gram of 14 carat was recorded: 1,473 pounds, and the price of a 24-carat pound for sale reached 17,680 pounds.
The price of gold is now 21 karat
When making a purchase, especially gold artifacts, those who are about to buy are interested in knowing the price of gold with workmanship, tax, and stamps. It is the concern of millions daily, especially when buying artifacts because the price of their workmanship is high compared to the workmanship of bullion.
To calculate the price of workmanship on a gram of gold, for example, 21 carat, a percentage between 5-10% of the price of a gram is added, and the price of a gram today starts from 2,210 pounds for purchase, so that its price starts with workmanship from 2300 pounds and above, according to the nature of the artifacts and the way they work.
In some shops, the price of workmanship is between 100-150 pounds, and that may be for light and simple handicrafts.