A number of sources revealed that the Stock Exchange will officially start publishing gold prices on special screens from tomorrow, Sunday, by assigning a pricing process to a company. In a step that some considered that it would restore discipline to prices after years of randomness in the pricing process, and control the determination of prices according to the whims of merchants.
How to price gold on the stock exchange:
The sources said that the stock exchange is scheduled to announce in a press conference tomorrow the full details about displaying gold prices on its website.
And the “sources” added that the announcement of gold prices through the website will be according to the price of an ounce of gold globally, the price of the dollar against the pound in addition to the mechanisms of supply and demand, noting that these prices will be indicative in order to determine the prices of the gold investment fund documents that are scheduled to take place. Announcing its launch tomorrow too.
Financial supervision authorizes gold investment funds:
The Financial Supervisory Authority had agreed to launch the first gold investment fund in Egypt, which was established between three companies, so that subscribers would be allowed to buy and sell gold based on the prices prevailing in the market, which helps facilitate gold investment operations.
Gold prices in Egypt now:
Gold prices in Egypt recorded, at the beginning of trading today, Saturday, declines, with a value of 10 pounds per gram, to reach the following:
The price of a gram of 21 carat gold now in the Egyptian market: 2430 pounds.
-The price of a gram of 24 karat gold now in the Egyptian market: 2777 pounds.
-The price of a gram of 22 carat gold now in the Egyptian market: 2082 pounds.
The price of a gram of 18 karat gold now in the Egyptian market: 2082 pounds.
The price of the gold pound against the Egyptian pound in the goldsmiths’ markets now: 19,440 pounds.
The global price of an ounce is 2012 dollars.
Gold prices are collapsing locally:
Gold prices in Egypt witnessed during this week’s dealings price collapses, as the price of a gram of gold decreased by about 195 pounds after it was recording price jumps over the past weeks’ dealings, as the government’s decision to allow unlimited quantities of gold with Egyptians abroad achieved its breakthrough in the markets and an increase in prices. The volume of supply, which was negatively affecting the price hike.
