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FinancialNews


  • 28-12-20

    Egypt declines gold prices with 21-karat at LE 817 at weeks open

    (MENAFN)At weeks open, gold prices declined in Egypt with the price of 21-karat (the market"s highest selling gold) dropping by three LE per gram to LE817, in comparison with Saturday"s price of LE820.

    The worth of 24-karat gold is now valued at LE934 per gram, 18-karat is at LE700 per gram, and gold coins at LE6, 512.

    Several gold ornaments have recently been manufactured with lighter weights during Christmas sales to match the economic recession and decline in purchasing power from citizens, according to the Secretary of the Gold Division at the Federation of Egyptian Chambers of Commerce Nady Naguib.

    Gold prices have been on the improvement since February"a result of global fears over the economic fallout of the Coronavirus outbreak, which has provoked investors to take refuge in safe-havens like gold.€ƒ

    MENAFN28122020000045011369ID1101348333

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