Saturday , August 13 2022

Echo Country: The price of gold today 6-12-2020


The price of gold in Egypt stabilized at the beginning of today’s trading, Sunday 20/6/2020; After the yellow metal increased yesterday, Saturday, in the jeweler’s shops, an average of 2 pounds was given to all gold coins in the jeweler’s shops.
The price of an 18-carat gram at the end of the deal was about 685 pounds.

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The price of the 21-month caliber, in circulation, was about 799 pounds per gram.

The price of a 24 carat gram was the highest price and a denomination of about 913 pounds.

The price of one gram with the lowest value 14 carats reached 531 and 533 pounds.

The price of pounds of gold was about 6392 pounds and one ounce of gold was about 28.4 thousand pounds and a kilo of gold was about 913,143 thousand pounds.

The price of gold in Egypt varies depending on the design, as the value of the production varies from one goldsmith shop to another, and the average price of production and stamp in the goldsmith shops varies between 30 and 65 pounds depending on the type of gold caliber, as well as the different goldsmith shops and from one state to another and from one retailer to another.

The production of the total gold price represents a percentage that ranges between 7% and about 10% of the price of one gram of gold. The higher the proportion of minerals present, the less carats. Ounces weighing 31.1 grams are used as a unit for the weight of jewelry and gold bars.

Ihab Wassef, head of the gold division of the Federation of Chambers of Commerce, commented that gold prices are all linked, and if it affects gold prices in any country, it has an impact on the rest of the countries.

Wassef added, in statements to him, that the coronavirus crisis has an impact on economic conditions as a whole, and there is a slowdown, and that is why it affected gold prices.

He pointed out that the Corona virus caused an increase in gold prices, as many people liked to obtain gold in times of crisis.

He pointed out that Corona’s impact on gold prices will cease or stabilize after a year and a half and not soon, due to the continued effect of the economy and the length of the expected recovery period and the return of work to its former era in various sectors.

He continued that gold is a safe haven for everyone, and the easiest investment in converting it to cash compared to cars and real estate, because gold does not decrease much and is easy to sell, so we recommend that you buy gold in times of crisis in general and during this period in particular.

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