09:19 PM
Wednesday 03 March 2021
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Books – Mustafa Eid:
Gold dealers in Egypt said that the present time is an appropriate opportunity to buy gold for those who want to acquire it, whether for investment or jewelry, after the significant decline in its prices in recent weeks.
The local gold prices witnessed a significant decline during the recent period, as the price of a gram fell in the last 3 weeks by about 46 pounds, bringing the 21-carat price to about 763 pounds, 18-karat to about 654 pounds, and 24-carat to about 872 pounds, and the gold pound scored about 6104. Pounds.
This comes after global gold prices fell by about $ 122.5 an ounce by 6.7% during the last 3 weeks, bringing the price today to $ 1715.51 at 3:15 pm Cairo time.
Nadi Naguib, former general secretary of the gold division of the Cairo Chamber of Commerce, told Masrawy that the current levels of gold prices are a good opportunity to buy gold for those who wish to acquire it, whether for jewelry or for investment.
He added that it is expected that prices will rise gradually during the coming period, with the return of major investors to buy new quantities gradually to avoid price hikes after profit-taking operations.
Salah Abdel-Hadi, head of the gold division of the Cairo Chamber of Commerce, agreed with Naguib Club that now is a good opportunity to buy after the significant decline in gold prices during the recent period.
Abdel-Hadi told Masrawy that it is possible that gold prices will rise during the coming period, and therefore the current time is an appropriate opportunity to buy.
Naguib Club advises those wishing to buy gold for the purpose of investment to go to buy bullion because it is not loaded with taxes, added value, workmanship or stamp, and it is also easy to liquidate it, but it is important to deal with a reputable trader or with the merchant who used to deal with him and knows him well so as not to be exposed. For any deception or fraud during the buying or selling process.
Naguib explained that gold pounds come after bullion in terms of keeping them as an investment, and sometimes the process of selling pounds faces some difficulty in obtaining the right price, because some traders try to reduce the price at which he will buy the pounds from the consumer by accusing him of having some defects in them, other than alloys that are difficult With her he did this.
Salah Abdel-Hadi pointed out that the alloys are not loaded with workmanship, and therefore it is recommended to buy them in case of wanting to invest.
He added that bullion can be easily disposed of if its holders desire to do so by selling it at the place where it was bought.
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