Gold prices fell in Egypt, Friday, June 11, 2021, affected by the rebound in global prices by about 1%, after the ounce touched the price of 1900 dollars yesterday.
Gold prices in Egypt are linked to international prices, as the price of an ounce fell from $1,900 yesterday, Thursday, to $1,885.35 during Friday’s trading, after the Federal Reserve announced its disregard for the high inflation rates in the United States, and its refusal to change its current monetary policies, which is the matter. Which supported the dollar, albeit a temporary support.
Gold prices in Egypt vary in different regions and types of carats, where the value of workmanship (the merchant’s wages for each gram in gold works) ranges between 30 and 60 pounds.
And the price of a gram of 21 karat gold (the best seller in Egypt) fell during Friday’s trading, to the level of 827.98 pounds ($52.94), and this price is without calculating the value of workmanship, and it may differ from one goldsmiths shop to another.
The price of a gram of 24 karat gold in Egypt decreased, during the middle of Friday’s trading, at jewelers and merchants shops, to reach 946.22 pounds (60.5 dollars).
And the price of a gram of 18 karat gold in Egypt, it recorded during Friday’s trading, about 709.74 pounds ($ 45.38).
With regard to economic gold prices in Egypt, the price of a gram of 14 karat gold recorded about 551.94 pounds (35.29 dollars), the price of a gram of 12 karat gold recorded 473.75 pounds (30.29 dollars), and the price of a gram of 10 karat gold recorded about 394.79 pounds (25.24 dollars).