A sharp drop in gold prices in Egypt today, Saturday… And the gram loses 8 pounds


12:44 PM

Saturday 16 October 2021

I wrote – Sherine Salah:

Gold prices in the local market continued to decline during today’s trading, and the gram fell 8 pounds, compared to yesterday’s prices.

The gram of gold in Egypt fell slightly, and fell by one pound during trading yesterday, Friday, bringing the total decline over the two days to 9 pounds per gram.

Naguib, former Secretary of the Gold Division of the Cairo Chamber of Commerce, told Masrawy that the price of a gram of 21 carat gold fell today to 775 pounds, compared to 783 pounds, yesterday.

Naguib added that the price of a gram of 18 karat gold recorded about 664 pounds, and the price of a gram of 24 karat about 886 pounds, and the value of gold in the pound was about 6200 pounds.

Global gold prices tumbled at the end of trading yesterday – the last session of the week – by 1.57%, according to Bloomberg Agency data.

The price of an ounce of gold reached 1767.6 dollars at the end of trading yesterday.

Today and tomorrow is an official holiday in global stock exchanges.

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