The Egyptians bought about 30.3 tons of gold, including items, ingots, and pounds, with a value of EGP27.5 billion in 2021, an increase of 39% compared to 2020, in which the Egyptians bought 21.9 tons, according to the report of the World Gold Council (WGC) issued today, Saturday, on trends in supply and demand in 2021.
The report indicated that the volume of what the Egyptians bought of gold during 2021 amounted to 27.9 tons, worth EGP 25.3 billion, an increase of 42% compared to 2020, in which THE Egyptians bought 19.7 tons with an increase of 12% compared to last year, which was 2.2 tons.
The report revealed the trend of supply and demand in the Egyptian market during the last quarter of 2021. Egyptian purchases of gold increased by 11% to record 7.4 tons, compared to the same period in 2020, and demand for gold items increased by 15% to record 6.8 tons, while demand for bullion decreased. And pounds by 20% to record 0.6 tons.
The report added that the per capita share of consumer demand in Egypt recorded 0.3% during 2021.
The report also pointed out that the average price of an ounce of gold last year was about $1.799, the average price of a gram of 24 karat gold was about 910 pounds, and the average price of a gram of 21 karat gold was about 795 pounds.
Translated by Ahmed Moamar
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