High gold and gram prices exceed 24 pounds

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Gold prices rose today, Thursday, 5-20-2020 in Egypt, to record its highest levels during the past three days after reducing the interest rate in America by 50 percentage points.

Gold prices today in Egypt

  • 18 carat gold record 614 pounds.
  • Caliber 21 record 716 pounds.
  • Caliber 24 record 818 pounds per gram.
  • The gold pound is 5728 pounds.
  • An ounce of gold is 1645 dollars.

Gold has recorded a significant increase since February 2020, as investors still fear the increasing deaths of the emerging “Corona” virus outside Chinese territory, and directed their concerns to gold as a safe haven, which has increased the demand for it, which has increased its price by 6% since the beginning of 2020.

gold price

It is noteworthy that there are 3 rules governing the price of gold in Egypt, which is the factor of supply and demand, the price of an ounce of gold worldwide and the changes that occur in the price of the American currency, which are the rules that are observed on a daily basis when determining prices.
The price of gold in Egypt may change throughout the day more than once, affected by global changes in the precious metal, as well as changes in the price of the dollar in Egypt, in banks and official banks.
Gold accounts for a large part of Egypt’s exports of jewelery and gemstones that exceed one billion dollars annually, and gold is exported as raw materials and alloys, not finished products, because of the stamping, which is not accepted outside the country.

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