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The 21-month carat price, at the level of gold bullets, was about 817 pounds per gram.
The price per gram of the most expensive 24 karat, a denomination of 934 pounds.
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The price of a gram of the minimum class of 14 carats was about 545 pounds.
The price of a kilo of gold was about 933,714 thousand pounds, an ounce of gold about 29,039 thousand pounds and a pound of gold about 6536 pounds.
The price of gold in Egypt varies according to labor, from one goldsmith to another, and the average price for labor and stamping in goldsmith shops ranges from 30 to 65 pounds depending on the type of gold karat, as well as for different goldsmiths and from one governorate to another and from one merchant to another, since it usually represents a ratio of 7% and 10% of the price of a gram of gold. The higher the percentage of minerals in the carat, the lower the carat. An ounce weighing 31.1 grams is used as the unit for the weight of gold bullion and jewelry.
For his part, Wasfi Wassef, head of the gold division of the Federation of Chambers of Commerce, said that the Corona pandemic affected all economic conditions in Egypt and global markets. It negatively helped in the rise in gold prices, explaining that the yellow metal and its various loans are related to each other, so if there is an effect on gold prices in any country, it will have an impact on the rest of the countries.
Wassef emphasized that the Corona virus caused an increase in gold prices due to many people turning to the acquisition of gold in times of crisis, explaining that the impact of Corona on gold prices will end or stabilize after a year and medium and not in a short period due to the continued impact of the economy and the expected duration of recovery and return. Previous work in various sectors.
He continued that gold is a safe haven for anyone, and the easiest investment to convert to cash compared to cars and real estate, because gold does not go down much and it is easy to sell, so we recommend buying gold in times crisis in general and in this period in particular.
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