Gold prices rose today, Friday, November 13, in the goldsmiths market in Egypt, at a value of 5 pounds, and the 21-carat gold, which is the best-selling in Egypt, scored 826 pounds per gram.
Gold prices today:
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Caliber 18 recorded 708 pounds
Caliber 21 recorded 826 pounds.
Caliber 24 recorded 944 pounds
The gold pound is 6608 pounds.
An ounce of gold is $ 1895.
Egypt’s exports of gold, jewelery and precious stones increased during the period from January to September of this year by about 76%, recording 2.4 billion dollars against 1.392 billion dollars during the same period last year.
During the first 9 months of this year, exports to about 32 countries, including 5 countries that were not exported to during the same period last year, included (Madagascar – Austria – South Korea – the Czech Republic – Croatia).
About 7 countries accounted for 99.8% of the sector’s total exports, led by the United Arab Emirates, which ranked first in terms of importing countries for jewelery and precious stones, acquiring 69.7% with a value of $ 1.703 billion compared to about $ 924 million during the same period last year, an increase of 84%, followed by Canada, which accounted for 21% of the sector’s total exports, with a value of $ 513 million compared to $ 439 million, an increase of 17%.
And “Australia” came in third place, whose exports witnessed a remarkable rise, recording a value of 159 million dollars against 2000 dollars. Exports to “Switzerland” also increased, registering 39 million dollars against 8 thousand dollars during the same period last year.
Gold fell by as much as 1.1 percent on Wednesday, weighed by the rise in the dollar, while hopes for a quick economic recovery were boosted by optimism about a possible Covid-19 vaccine, which pushed investors towards high-risk assets.
“There are two factors against gold, strong stocks and a strong dollar at the moment. It is difficult for gold to continue to rise with the rise in these two markets,” said Bob Haberkorn, chief market strategist at RJO Futures.
“The search for safety in precious metals that we experienced last week after the American elections was diminished by the news of the Coronavirus vaccine.”
The dollar rose 0.4% to its highest level in about a week, which took a toll on gold, as it increases the cost of the metal to holders of other currencies.
Silver fell 0.3 percent to $ 24.14 an ounce. Platinum fell 2.4% to $ 861.70 and palladium fell 5.2% to $ 2,325.58 an ounce.
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