Gold prices stabilized today, Sunday, coinciding with the weekly holiday of the goldsmiths market, to record the 21-carat gold gram, which is the best-selling in Egypt, 827 pounds, while the 18-carat recorded a value of 708.75 pounds, and the 24-carat reached a value of 945.25 pounds, and the gold pound recorded 6616 pounds and the ounce was recorded 1906 dollars.
Nagy Farja, a member of the Precious Metals Division of the Chamber of Commerce, revealed that the imprinted gold in Egypt declined by 30% during the year 2020 due to the Corona virus, and the sales rates decreased significantly since the beginning of the year, indicating that all the gold artifacts circulating in Egypt are stamped and not allowed to circulate any gram It went without a stamp.
He added, in statements to “The Seventh Day,” that stamping gold is a protection for the final consumer, and whoever buys non-stamped gold is exposed to the dangers of fraud, and the best-selling caliber is 21 due to the multiplicity of its formations.
He explained that a large number of Egyptians went to buy gold after the recent interest rate cut, but buying now is to buy bullion, which has seen a 50% increase in sales compared to last year, and many companies have devoted entire production lines to the production of bullion.
In another context, a member of the Precious Metals Division of the Chamber of Commerce confirmed that the price of an ounce of gold does not remain stable for a long time, and it is not possible to expect a specific ceiling for the rise in prices, and so far the world has not arrived to treat the Corona virus, and this threatens a rise in gold, in addition to the return of countries to closure Once again, it will make gold a safe haven for a longer period, and price increases cannot be expected during the coming period.