Several fluctuations witnessed by gold prices during the first two weeks of 2020, so that gold rises to its highest level in 7 years to rise an ounce above 1,600 dollars, and is met by the rise of gold in Egypt above 710 pounds per gram, then prices return to fall globally to go down to 1543 dollars now and locally to 683 pounds per gram And here the consumer finds himself puzzled, what does he do, is the time right now to buy new gold holdings, or wait for another drop in prices.
Likewise, those who have gold or old gold holdings raise questions of the right time to sell or whether the price of gold can rise again, which Ehab Wasef, deputy head of the gold division in the Chamber of Commerce answers, by saying that the tensions in the Middle East region Continuously pushes towards increasing gold prices, and then from having financial surpluses he can buy gold now.
He added to “The Seventh Day”, evincing his opinion: gold since 1981 rises annually in varying proportions to range between 20 to 36% annually, so the metal throughout the time in successive rises, and in 2016 witnessed an unprecedented increase in gold in Egypt by 256%, gold is linked Worldwide prices, as well as the price of the dollar against the pound in Egypt, as well as factors of supply and demand. “
Wasef stressed that buying gold is appropriate at all times because it is a safe investment haven, especially in light of the ongoing currency turmoil, pointing out that the rise in oil and the dollar’s decline globally, as well as political and security turmoil in the region, are all paid in the directions of increasing gold prices, so if a citizen He has a financial surplus, because gold is suitable for him.
Wasef continued, that the international prices of gold have risen 4% since the beginning of this year, but they have taken their way to decline in light of the approach of a trade agreement between America and China, but there is constant anticipation of the results of developments in the global economy, as well as the situation in the Middle East.