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Gold prices stabilized on Monday 7-9-2020 in Egypt, which registered 848 pounds per gram of 21 carats, which is the most sold and traded in Egypt, while an ounce of gold registered 1930 dollars, with expectations of a fall price on the goldsmith market in Egypt for the next few hours.
Gold prices today …
18 gauge: 726.85 pounds
21 gauge: 848 pounds
24 gauge: 969.10 pounds
Gold pound: 6784 pounds
World Price: $ 1930
Nagy Farag, a member of the advisor to the Ministry of Supply for the gold industry and a member of the Precious Metals Division, said that gold sales recorded only 40%, with a significant drop in sales due to the drop in demand. of gold jewelry during the current period due to high prices.
He added in statements for the seventh day, that the consumer expects a significant change in prices until he goes to buy, especially since the current period does not see any occasion, but with the return of tourism in part, we expect a limited boom in the next period.
The World Gold Council report revealed the decline and decrease in demand for gold, during the period from April to June 2020 in Egypt, by 70% compared to the same period in 2019, as the sales volume reached 1.7 tons compared to 5.5 tons.
The report revealed that the volume of artifact sales in most countries decreased in varying proportions, with the decline in the United Arab Emirates reaching 86%, Saudi Arabia at 80% and Kuwait at 35%.
The report showed that the decrease in total sales volume in Egypt decreased by 31% during the first half of 2020 and the volume of investment purchases (bullion and coins) decreased by 10% compared to 2019.
