After a sharp reduction globally, gold prices in Egypt declined today, Saturday, October 1, 2022; a gramme of gold costs around 7 pounds less, and its losses over the next two days total 13 pounds, the worst drop in price in about two weeks.
The price of an international ounce fell, there was less demand for purchases on the local market, and the exchange rate of the dollar against the pound remained stable, according to Naguib Naguib, Secretary of the Gold Division of the Federation of Chambers of Commerce. These factors led to significant drops in gold prices in Egypt today, Saturday, at a value of 7 pounds per gramme.
According to “Naguib,” the price of the most popular 21 carat gold fell from record highs of 1130 to 1117 pounds per gramme over the course of the past two days, representing the yellow metal’s greatest fall in almost two weeks.
According to Naguib, the cost of 24 carat gold dropped to 1276 pounds per gramme, the cost of 18 carat gold dropped to 957 pounds, and the cost of a gold pound reached its lowest point ever of 8936 pounds.
Urgent.. Gold prices in Egypt fell the most in two weeks on Saturday, October 1, 2022.
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