Gold prices fell today, Tuesday, in Egypt at the goldsmiths market by two pounds, and recorded 21 carat, which is the best-selling in Egypt, at 745 pounds per gram, with expectations of another decline in prices if the price of the precious metal worldwide continues to drop, which is now $ 1702 an ounce.
Gold prices today:
Caliber 18 recorded 638 pounds per gram.
Caliber 21 recorded 745 pounds per gram.
Caliber 24 recorded 851 pounds per gram.
The gold pound is 5960 pounds.
An ounce of gold is $ 1702.
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The data of the Export Control Authority revealed that Egypt’s exports of jewelry and precious stones increased by 58% during the first quarter of 2020, to $ 743 million, compared to $ 503 million during the same quarter of 2019.
The Gold and Precious Metals Division of the Chamber of Commerce indicated that most of the sector’s exports fall under the handicrafts of gold and precious Pharaonic inscriptions, made of gold “cartridge” on which the names are written in the 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 facing exports, to work to remove them so that we do not lose our traditional markets such as the UAE, Saudi Arabia and Kuwait, and we are working on the gradual rise of exports.
The General Division for Jewelery and Jewelery Trading decided to re-operate the gold and jewelry shops on Friday and Saturday, in implementation of the cabinet’s decision to reopen the stores during the two days, with continued preventive measures to confront the Corona virus.
Ehab Wasef, deputy head of the Gold Division, said that working in jewelry stores starts from 10 am to 5 pm, and the weekly leave is on Sunday in most markets in the governorates of Egypt.
Jewelery and gold shops were out of business for 3 days, Friday and Saturday, in implementation of the cabinet’s decision, in addition to the weekly holiday day of the goldsmiths market, 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 Division of Gold, the shops that sell jewelry and gold will open their doors to the public throughout the week except for Sunday, which is the official holiday for the goldsmiths market.
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