12:13 AM Wednesday, January 10, 2024
Dalia Al-Dhanini wrote:
Dr. Naji Farag, advisor to the Minister of Supply for gold industry affairs, confirmed that Egyptians’ gold savings are frozen, indicating that it is possible for a gold deposit to be offered.
Faraj added, during his meeting with the journalist Ahmed Moussa, via the program “On My Responsibility”, broadcast on Sada El Balad channel, today, Tuesday: It is possible, after offering gold deposits, to save $15 billion annually, explaining that there must be a fund to invest in gold in Egypt as it is a national industry. .
Nagy continued: There are 300 tons of gold in circulation in the Egyptian market, indicating that savings certificates are the best for investment, not gold, at the present time.
The advisor to the Minister of Supply confirmed that problems and wars lead to a rise in gold prices, pointing out that the 27% return on savings certificates is higher and better than investing in gold.
Farag pointed out that there is a great demand among Egyptians to buy gold, stressing that Egypt buys 80 tons of gold annually.
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