Gold prices rose in early Sunday morning trading by around £10 in Egypt today to record prices of £1660 per gram of 21 carat which is Egypt’s best selling unlabored as the continued high demand for gold in the Egyptian market.
Gold prices today:
18 karat registered 1423 pounds.
21 carat registered 1660 pounds.
And 24 carats registered 1897 pounds.
And the gold pound is £13,280.
Gold Division member Sameh Abdel Hakim said that the global gold buying trend pushed the price of an ounce to the $1,800 level at the end of the trading week and, on the other hand, the price of the Gold in Egypt has witnessed a move due to high demand for the precious metal with buying demand at the current stage, expecting the gram to come in at the £2000 near level due to high demand for the precious metal.
When asked about the state of handicraft sales, Sameh Abdel Hakim revealed that the gold handicraft market is declining at this stage in favor of gold bars and gold pounds, noting that retail shops have achieved sales rates of bars where about 50-60% of total sales currently.
As for the bullion weights available in the market, he revealed that gold factories supply bars with weights ranging from one gram to one kilo, indicating that the factories range from 25 to 65 pounds in one gram of bullion.
