Country Echo: the price of gold today 12-15-2020

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The price for an 18-karat gram was £ 685 and £ 688 at the end of the day today.

The price of a gram of the lowest category of 14 carats was approximately 533 pounds and 535 pounds.

The price of the pound of gold reached around 6424 pounds and the kilo of gold reached 917,714 thousand pounds and the ounce of gold 28,541 thousand pounds.

According to the statements of gold experts, gold prices in Egypt vary according to labor, as the value of labor varies from one goldsmith to another, and the average price of labor and stamp in the goldsmith shops it ranges between 30 and 65 pounds depending on the type of gold gauge, as well as the different goldsmith shops and from one province to another and from one merchant to another. plus.

Labor also represents a percentage of the total price of gold that ranges between 7% and approximately 10% of the price of a gram of gold. The higher the percentage of metals present, the lower the carat. The ounce that weighs 31.1 grams is used as the unit for the weight of jewelery and gold bars.

For his part, Wassef Wassef, Head of the Gold Division of the Federation of Chambers of Commerce, described that the Corona pandemic had affected all economic conditions in Egypt and global markets. As it negatively helped the price of gold, explaining that the yellow metal and its various loans are related to each other, and if there is an effect on the price of gold 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 one year and medium and not in a short period due to the continuous impact of the economy and the expected duration of recovery and return Previous jobs 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 decrease much and is easy to sell, so we recommend buying gold in times of crisis in general and in this period in particular.