Gold prices fell in Egypt on Friday 8-11-2019, the value of 3 pounds, where gold caliber 21 is the best-selling in Egypt, especially the governorates of Upper Egypt, 665 pounds per gram, until the drafting of these lines.
Gold Price in Egypt:
Caliber 18 record 570 bends per gram
Caliber 21 record 665 pounds per gram
Caliber 24 record 760 pounds
The gold pound is 5320 pounds
1469 gold ounce
Gold traders confirm that China's announcement of an agreement with the United States on the abolition of some duties on Chinese goods, caused gold to fall to the lowest level in a month at 1469 dollars an ounce.
The decline in the price of gold in Egypt, following a significant decline in world prices of ounce, which has fallen 1478 dollars to 1469 dollars so far.
It is noteworthy that there are three rules governing gold prices in Egypt, which is the factor of supply and demand and the price of gold ounce globally and changes in the price of the US currency, which rules are observed on a daily basis when determining prices.
Egyptian families are keen to acquire gold on occasions and holidays as gifts, especially in the provinces of the face of the sea and tribal, where the demand for gold is high of 21 carat, while the demand for the precious metal of 18 carat in Greater Cairo and Alexandria, and the provinces where tourism is booming.
The price of gold in Egypt, may change throughout the day for more than once, influenced by the global changes witnessed by the precious metal, as well as the variables of the dollar price in Egypt, banks and official banks.
Gold makes up a large part of Egypt's exports of jewelery and precious stones, which exceed $ 1 billion annually. Gold is exported as ore and alloys and not finished goods, because of the stamp stamp which is not accepted outside the country.