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English: This chart shows the nominal price of gold along with the price in 1971 and 2011 dollars (adjusted based on the consumer price index). The historical gold price was obtained from www.igolder.com; CPI was obtained from www.rateinflation.com. The data is in section Chart Data.
Mining in Egypt has had a long history that dates back to predynastic times. Active mining began in Egypt around 3000 BCE. Egypt has substantial mineral resources, including 48 million tons of tantalite (fourth largest in the world), 50 million tons of coal, and an estimated 6.7 million ounces of gold in the Eastern Desert. [1]
In 1885, Egypt went into a purely gold standard, and the Egyptian pound unit, known as the juneih, was introduced at E£1 = 7.4375 grammes of fine gold. This unit was chosen on the basis of the gold content in the British gold sovereign and maintaining the exchange value of 97.5 piastres to the pound sterling, and it replaced the Egyptian ...
In 2006, with gold at $650 per troy ounce ($21/g), Roland Watson claimed that gold production had peaked in 2001 due to falling exploration in the 1990s, when gold prices were low. He predicted that higher prices and new technologies would boost gold production to higher levels in the future.
Archaeologists say a recent discovery could provide new insight into life in Egypt 3,000 years ago. An Egyptian-English mission from the University of Cambridge uncovered three gold rings and a ...
Since 1968 the price of gold has ranged widely, from a high of $850/oz ($27,300/kg) on 21 January 1980, to a low of $252.90/oz ($8,131/kg) on 21 June 1999 (London Gold Fixing). [ 4 ] The analysis of this period is based on the work of Robert Solow and is rooted in macroeconomic theories of trade including the Mundell–Fleming model . [ 5 ]
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This list of mines in Egypt is subsidiary to the list of mines article and lists working, defunct and future mines in the country and is organised by the primary mineral output. For practical purposes stone, marble and other quarries may be included in this list. Coal mines El Maghara mine; Gold mines Sukari mine; Phosphate mines Abu Tartur mine