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Gold prices fell on Tuesday in Egypt in the goldsmiths market by two pounds, and they registered 21 carats, which is the most sold in Egypt, to 745 pounds per gram, with expectations of another decrease in prices if the price worldwide precious metal continues to decline, which is now $ 1702 an ounce.
Gold prices today:
The 18 gauge registered 638 pounds per gram.
Caliber 21 recorded 745 pounds per gram.
The 24 gauge registered 851 pounds per gram.
The gold pound is 5960 pounds.
An ounce of gold is $ 1702.
Data from the Export Control Authority revealed that Egypt’s jewelery and gemstone exports increased 58% during the first quarter of 2020, to $ 743 million, compared to $ 503 million during the same quarter of 2019.
The Chamber of Commerce’s Gold and Precious Metals Division indicated that the majority of the sector’s exports correspond to gold crafts and precious pharaonic inscriptions, made of gold “cartridge” in which the names are written in hieroglyphic language and other products that are collected manually.
Club Naguib, a member of the Gold Division, said that there are efforts to develop the sector and develop products and study the obstacles faced by exports, work to eliminate them so that we do not lose our traditional markets such as the United Arab Emirates, Saudi Arabia and Kuwait, and we are working on gradually increasing exports.
The General Division of Jewelry and Jewelry Trade decided to re-operate the gold and jewelry stores on Friday and Saturday, in implementation of the cabinet’s decision to reopen the stores during the two days, with ongoing preventive measures to deal with the Corona virus .
Ehab Wasef, deputy director of the Gold Division, said working at jewelry stores starts at 10 a.m. at 5 p.m., and that weekly holidays are on Sundays in most markets in Egypt’s provinces.
Jewelers and gold shops were out of business for 3 days, Friday and Saturday, in implementation of the cabinet decision, in addition to the weekly goldsmith market holiday, which is Sunday, for stores to operate for only 4 days since the government’s decisions to confront the Corona virus.
And the new decision of the General Gold Division, stores that sell jewelry and gold will open their doors to the public throughout the week, except Sunday, which is the official holiday for the goldsmiths market.
