“After the rise in the price of gold.” Egyptians resort to a “new haven” to invest their money “After the rise in the price of gold.” Egyptians resort to a “new haven” to invest their money

“After the rise in the price of gold.” Egyptians resort to a “new haven” to invest their money

“After the rise in the price of gold.” Egyptians resort to a “new haven” to invest their money

First Assistant to the Egyptian Minister of Supply, Ibrahim Ashmawy, revealed the citizen’s tendency to buy silver bullion after the rise in gold prices, because they are considered safe havens for investment.

He said that there is price speculation in the gold market and there is great demand for purchases, explaining that the decline in the exchange rate in the parallel market for the dollar led to the collapse of the price of gold.

Ashmawy explained during his interview with Sada El Balad channel, saying: The higher the price of the commodity in the markets, the higher the demand for it.

Ashmawy added: Low prices on goods are linked to supply and demand, and thus the abundance of goods in the markets in large quantities controls prices.

The First Assistant Minister of Supply indicated that the Stamps and Weights Authority is responsible for placing the stamp on the gold bullion.

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