Today, Monday, November 4, 2024, gold prices are witnessing a state of calm in Egyptian goldsmith shops, after the significant increase in recent days, coinciding with the rise in the global price of gold. The price of 21 karat gold and the gold pound “buying and selling” recorded record numbers in Egyptian goldsmith shops.
Gold price today, Monday, in Egyptian goldsmith shops
In this report, we publish the latest updates on gold prices now, “buying and selling,” and with manufacturing costs. We also monitor price expectations for the coming days, which are as follows:
24 karat gold prices today
The price of 24 karat gold stabilized during today’s trading at 4331.43 pounds for sale, and 4315 pounds for purchase. 24 karat gold is sold with workmanship at 4480 pounds per gram.
21 karat gold prices today
The price of 21 karat gold reached 3,790 pounds for sale on Monday, and 3,770 pounds for purchase. 21 karat gold is sold with workmanship at 3,890 pounds per gram.
18 karat gold prices today
The price of 18 karat gold this morning was recorded at 3248.57 pounds for sale, and 3230 pounds for purchase. 18 karat gold is sold with workmanship at 3385 pounds per gram.
14 karat gold prices today
The price of 14 karat gold in goldsmiths’ shops today reached 2,527 pounds for sale, and 2,510 pounds for purchase. 14 karat gold is sold with workmanship at 2,710 pounds per gram.
Gold pound price today
The price of the gold pound stabilized during trading on Monday, November 4, 2024, in Egyptian goldsmith shops at 30,320 pounds for sale, and 30,250 pounds for purchase.
Gold bar price today
A 50-gram gold bar is sold today at EGP 216,550, while a 100-gram bar recorded EGP 433,100 during this morning’s trading.
Global gold price today
Global gold prices also stabilized after the weekend, with an ounce of gold recording $2,776 for sale and $2,775 for purchase.
Reasons for the rise in gold prices today
Economists believe that the reasons for the significant increase in gold prices locally and globally in recent days are due to several factors, including the decline in the value of the pound against foreign currencies, which prompts citizens to turn to gold as a safe option to preserve their savings. In addition, global inflation and rising interest rates play a major role in increasing demand for gold as a fixed asset capable of retaining its value in the long term. Likewise, unstable economic conditions increase the demand for gold as a safe haven, leading to an increase in its prices globally and locally.
Gold price forecast tomorrow
As the factors affecting the global market continue, goldsmiths expect gold prices to remain at high levels in Egypt and the world. Prices are likely to witness further increases if global economic and political crises continue, as this prompts investors to rely on gold as a safe haven in the face of ongoing economic fluctuations.
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