Gold prices in Egypt have fell by one Egyptian pound on Tuesday, following a significant increase of 9 pounds witnessed last Thursday. The Twenty-four carat gold is sold today for EGP 293.91; while the widely-spread in Egypt Twenty-one carat gold has reached EGP 257.22. The 18-carat gold also fell to EGP 220.54 on Tuesday. Nady Naguib - member of the gold traders chamber – has cited the severe decline in rates of purchasing the precious metal driven by the current domestic economic situation. Yet, Mr. Naguib said the gold selling turnout in the nation-wide governorates is higher than in Cairo. The recession in Egypt has reached around 70%, besides 40% of citizens tend to sell their gold deposits ahead of Eid al-Adha. The Table below demonstrates the prices of gold in Egypt recorded on early Tuesday in Egyptian pound (EGP) and the US Dollar (USD): Egypt's Gold Prices in Egyptian pound (EGP) & US Dollar (USD) Carat EGP USD 24K Gram 293.91 $42.61 21K Gram 257.22 $37.29 18K Gram 220.54 $31.97 14K Gram 171.62 $24.88 10K Gram 122.7 $17.79
