Gold prices declined in Egypt, today, Saturday, in the middle of trading in goldsmiths’ shops, and the price of a gram of the 21-carat precious metal decreased by about 12 pounds at once, compared to the price level at the beginning of morning trading.
According to the electronic platform “isagha”, which specializes in monitoring gold prices in Egypt and the Arab world through instantaneous surveys among merchants, the price of a gram of 24 carat gold decreased to 956.5 pounds, compared to 974.11 pounds at the beginning of trading.
The price of a gram of 21 carat gold decreased to 840 pounds, compared to 852 pounds in the morning.
Likewise, the price of gold, a gram of 18 carat, fell to 720 pounds, compared to 730.59 pounds at the beginning of trading.
The price of a pound of gold and an ounce
The price of the pound of gold in Egypt decreased to 6720 pounds, compared to 7176 pounds in the morning.
The price of an ounce of gold in Egypt decreased to 1927 dollars, compared to 1930 dollars in the morning.
Gold prices worldwide
On Friday, global gold prices increased by about 1% due to the weak dollar, and the attractiveness of the yellow metal as a hedge against inflation increased due to renewed optimism about a new US aid package to mitigate the repercussions of the Corona virus.
On the COMEX exchange, gold futures contracts for December 2020 delivery ended trading yesterday, up 1.6%.
According to Bloomberg, the price of gold increased by about $ 31 to $ 1926.2 an ounce in the settlement, yesterday.