🔥 | A price gap in favor of consumers in Egypt’s gold market
✔️ The price of 21-karat gold in Egypt rose by 0.3% today, reaching a high of EGP 6,255 per gram and gaining EGP 20.
✔️ Gold is trading at a discount of around EGP 30 below its fair value. This means there is a negative price gap in favor of consumers, who can buy a gram of gold for less than its true price. ⭕
✔️ This price gap is caused by a general decline in domestic demand for gold, while supply remains abundant.
✔️ In addition, fluctuations in the dollar exchange rate at banks lead traders to price gold using a different exchange rate, either to encourage consumers or to facilitate the purchase of used gold for export. 💲
🌑 $LUNC
$PEPE
$WIN
#CPITestsDecemberRateOutlook #BitcoinFiveWeeklyLosses #NvidiaInvestigatesAfterHuang’sAffairApology
✅@mshabaka
✔️ The price of 21-karat gold in Egypt rose by 0.3% today, reaching a high of EGP 6,255 per gram and gaining EGP 20.
✔️ Gold is trading at a discount of around EGP 30 below its fair value. This means there is a negative price gap in favor of consumers, who can buy a gram of gold for less than its true price. ⭕
✔️ This price gap is caused by a general decline in domestic demand for gold, while supply remains abundant.
✔️ In addition, fluctuations in the dollar exchange rate at banks lead traders to price gold using a different exchange rate, either to encourage consumers or to facilitate the purchase of used gold for export. 💲
🌑 $LUNC
$PEPE
$WIN
#CPITestsDecemberRateOutlook #BitcoinFiveWeeklyLosses #NvidiaInvestigatesAfterHuang’sAffairApology
✅@mshabaka
