Gold and jewelry prices continued to decline sharply during trading in Egypt, Friday, coinciding with the decline in the price of an ounce on the International Metals Exchange as a result of profit-taking.
The price of a gram decreased by about EGP 45 today, so that the 21-karat, the most popular in Egypt, reached about EGP 4040 per gram, compared to its morning price of EGP 4085 without calculating the workmanship.
The price of a gram of 24-karat gold did not maintain its levels, as it fell again in Egypt, recording EGP 4617.
A new decline was recorded by the price of a gram of 21-karat gold today due to the decline in demand in transactions, reaching EGP 4040; which is the most popular karat in Egypt currently.
The price of a gram of 18-karat gold today decreased significantly, falling by EGP 12, and the lowest-priced karat in Egypt recorded EGP 3462 in transactions; it is the most popular karat in Lower Egypt.
The price of the 8g gold coin in Egypt suffered new losses, losing EGP 360 of its value and recording EGP 32320.
The price of a 31g ounce was affected by the decline in the gram, falling locally to about EGP 143,127.
Internationally, Gold prices continued their slide on Friday this week from record highs, losing 3.5% from the end of last week as global stock markets also fell with industrial commodities and long-term bond yields falling amid the latest uncertainty from the new Trump administration in Washington.
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