11:36 PM
Thursday, November 24, 2022
Books – Hassan Morsi:
Amir Rizk, a member of the Association of Jewelers in the Federation of Chambers of Commerce, revealed a surprise regarding the price of 21 carat gold next January.
Rizk said, during a telephone conversation with the journalist Sherif Amer, on the “Happening in Egypt” program broadcast on MBC Egypt on Thursday evening: “We want the customer to buy, and the high price of gold does not help with that, and we want the price to go down so that the customer can buy.”
A member of the Jewelers Association added: “When an Egyptian feels that gold is selling, he sells it and feels that gold is a safe haven and accepts buying it. In January, if interest rates drop, the price of an ounce is expected to reach $1,800.”
A member of the Association of Gold Dealers in the Federation of Chambers of Commerce indicated that investors resort to buying gold as a safe haven with the change in the interest rate, adding, “The parallel market for the dollar is the reason for the high price of gold, expecting: we expect the availability of the dollar in Egypt in large quantities next January and the price of 21 karat gold from It can reach 1500 pounds.
