Gold prices today, Saturday, in Egypt.. 21 karat records 783 pounds per gram – The Times

December 12, 2021

testify Gold prices today In Egypt today, an increase of about 3 pounds, to record 21 karat gold, which is the best-selling in Egypt, 783 pounds per gram now, according to the price at which the market closed this week.

Gold prices today, Saturday In Egypt, 783 pounds per gram of 21 karat, which is the main caliber in Egypt, and 18 karat at 671 pounds per gram, and 24 karat gold at 894 pounds per gram, and the gold pound today is 6246 pounds.

Ehab Wassef, head of the Jewelery and Jewelery Industry Division in the Federation of Industries, revealed that the average annual consumption of gold It ranges between 23 to 30 tons annually, indicating that the year 2021 witnessed a remarkable demand for the purchase of gold in its various forms, whether gold works, pounds and bullion.

Wassef added, in a telephone interview with the Aswaaq program presented by colleague Islam Saeed on Youm7 TV, that the last quarter of 2020 and the period from January to the end of September 2021 witnessed a clearly high demand for investment and saving gold, which is the phenomenon of buying gold for the purpose of investment after declines in interest.

The head of the Jewelery Industry Division explained that expectations indicate a decline in demand in the last quarter of 2021, and this makes the balance of sales may change in part, pointing out that the investment and saving awareness of the citizen rises with the tendency to buy gold as a safe haven.

He emphasized that bullion and pounds gold It is in high demand, as well as traditional handicrafts because it is “a decoration and a treasury”, and that the tendency to buy gold for the purpose of storing it is a historical phenomenon in Egypt.

And about buying tips goldEhab Wadf stressed the need to buy gold from the official market and to stay away from buying from the Internet, and to buy from the goldsmiths market, due to the presence of a large number of retail stores, in addition to the need to know gold prices before going to buy.

Regarding gold price expectations, Ehab Wassef sees the market trend to the upside in the coming period, and there are data pushing in this direction, and we may witness relative stability during the next week in gold prices at their current levels.

Read More: Gold prices today, Saturday, in Egypt.. 21 karat records 783 pounds per gram – The Times

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