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Gold prices saw a significant drop of 12 pounds today, Thursday morning, to register a 21-karat gold gram, which is the best-selling in Egypt, 848 pounds per gram, in the context of the price decline global ounce of gold from 1967 dollars to 1938 dollars, with expectations of another drop in prices in the next few hours.
gold prices:
18 gauge: 726.85 lbs.
21 gauge: 848 lbs.
24 gauge: 969.10 lbs.
Gold pound: 6784 pounds.
World price: $ 1938.
There are 3 rules that control the prices of gold, which are, respectively, the global price of an ounce of gold, that if there is any decrease, the prices will fall here in Egypt, and the exchange rate of the dollar and if the price of the dollar collapsed, gold prices fell, and finally supply and demand factors, but they do not significantly influence.
Some ask, when will gold prices fall to 2019 levels? We will find that they are linked to the above factors, if they are combined, or at least the first causes of the drop are realized, which is a sharp drop in world prices, gold will achieve a significant drop in Egypt.
The global price of an ounce of gold registered a rise of 27.2% during the period from January to July 2020, so that holders of the precious metal earned about $ 413 for every ounce they had, which is a value very high that has not been achieved in almost a decade.
Gold prices in Egypt rose from 680 pounds to the 21 gauge, which is the best-selling and most traded in the goldsmith market, to 848 pounds per gram now, so that gold holders in Egypt earn 188 pounds per gram, an increase of 30% from the beginning of the current year until now.
