A collapse hits the gold market..and urgent advice from the jewelry division


Dr. Wasfi Amin Wassef, Head of the Gold Division at the Federation of Chambers of Commerce in Cairo, revealed that gold prices had a decline that reached collapse during the past days, pointing out that gold prices fluctuated and unstable during the past week.

The head of the Gold Division indicated, during a telephone conversation with the “Al-Masry Effendi” program, on the “Al-Mehwar” channel, that the 21-carat gold gram today reached 770 pounds, explaining that prices rose at the end of today’s trading, reaching 770 after the first 760 yesterday.

He stressed that the current time is appropriate to buy, noting that there is no strong reason for the collapse of gold in this way, pointing out that the number of sales in Egypt is many, but there is no significant weight. He continued: “Investment funds are afraid because they made profits during the past days.”

He pointed out that the weight of the ring reached 2 grams, and that there was a net worth 10,000 pounds.


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