The price of gold witnessed an increase in the beginning of trading today, at a value of 3 pounds, due to the high prices of the precious metal globally, $ 8, to record an ounce of gold, 1688 dollars.
The large rise in the price of gold globally, caused complete paralysis in gold sales in Egypt, as a result of these increases, which are no longer tolerated by the market, according to Mahdi Abdel-Fattah, a member of the Goldsmiths Division, who confirmed that sales are almost completely stopped at the levels of the Republic due to the outbreak of the Corona virus.
Club Naguib, secretary of the gold division in the Chamber of Commerce, said that gold recorded 733 pounds per gram, with high prices of the precious metal globally to reach 1688 dollars due to the increasing demand of investors for it, as markets continued to be affected by the outbreak of the Corona virus.
He added in statements to “The Seventh Day”, that the sales situation is very bad, and there is almost complete pause in the movement of selling gold jewelry because of the curfew and the direction of the stores to close and work only 4 days.
Gold prices in Egypt:
18 gauge 628 pounds per gram.
Caliber 21 record 733 pounds forbidden.
Caliber 24 recorded 836 pounds per gram.
The gold pound is 5864 pounds per gram.
An ounce of gold is $ 1688.
–
Gold rose to its peak in almost a month last week after the rise in demand for the metal, which is a safe haven because of fears of the worsening economic impact caused by the Corona virus pandemic, and then declined on Tuesday and started to rise gradually since Wednesday, hitting its highest levels Thursday.
“Gold is backed by flows of hedging risks ahead of a long weekend and overnight activity risks,” said Jeffrey Haley, chief market analyst at Oanda.
– .
:quality(80)/cdn-kiosk-api.telegraaf.nl/5439331e-7d85-11ea-b588-02d2fb1aa1d7.jpg?resize=150%2C150&ssl=1)