Amr Al-Maghribi, one of the well-known personalities in the world of gold in Egypt, revealed during his talk on the “On My Responsibility” program that gold is the first choice for many investors. So why? Because it is considered a safe haven for investment and savings in times of economic recession. For this reason, Al-Maghrabi advised everyone to keep gold as a long-term investment and in this context, he added that there is no big difference between the types of gold, whether they are ingots, pounds, or even artifacts. He highlighted that the city of gold is under construction, and it will be a huge center for gold production in Egypt.
Zero customs direct impact on the market
On the other hand, Nagy Faraj, Advisor to the Minister of Supply, touched on the “Zero Customs on Gold” initiative, and explained how this initiative had an effective role in controlling gold prices and limiting sharp fluctuations in the market, but will this initiative continue? To expire next November, hoping to extend it to help stabilize prices.
The price of gold fluctuated beyond the numbers
Hani Milad, in turn, mentioned that there are certain factors that contribute to determining the price of gold. Recently, the price of gold reached its peak of 21 carat, at 2800 pounds, before falling again to about 2172 pounds.
2023-08-12 12:14:07
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