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The high price of gold in Egypt is 11 pounds … and a member of the Jewelers Division reveals the reason

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Gold prices rose by 11 pounds, and the 21 gauge became the most popular in the Egyptian market at 834 pounds, due to the increase in the global price of 1916 dollars, an increase of 21 dollars from the prices of Thursday.

Amir Rizk, a member of the Jewelers Division, told Al-Masry Al-Youm that the 24-gauge became 953 pounds per gram, and 21-gauge became 834 pounds, and 18-gauge became 715 pounds per gram, and the price of the gold pound increased to 6675 pounds.

Rizk confirmed that gold rose because international companies went to reap profits, and that prices are expected to rise during the coming period as these companies continue to increase, and that the institutions and the US Central Bank had bought large quantities and exceeded their needs by 250 tons of gold, which led to his being forced to sell them Over the past period, what led to an ounce dropping from $ 2,500 at the time of purchase to $ 1916 now, which caused a shock in the gold market.

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