Posted on: Saturday, October 16, 2021 – 12:58 AM | Last update: Saturday, October 16, 2021 – 12:58 AM
Naguib Naguib, Secretary General of the Gold Division of the Federation of Chambers of Commerce, said that the current time is very appropriate to buy gold, considering that 775 pounds for 21 karat is a very good price.
He added, during a telephone interview with the “Al-Masry Effendi” program, presented by the media, Mohamed Ali Khair, on the “Axis” screen, on Friday evening, that the 21 carat decreased its price by ten pounds per gram in the last 24 hours, but he ruled out heading for a further decline by more. From 770 pounds.
He pointed out that gold prices remain likely to rise again, and attributed this to the fact that the current price is suitable for foreign investors and therefore the buying process will begin by them with large tons, and according to the theory of supply and demand, there may be a shortage of supply, and thus prices will rise.
While he did not rule out that the price of a gram of 21 karat gold would reach about 900 pounds, he stressed that it takes more time.
He pointed out that gold prices always witness a state of instability, explaining that gold is a global commodity and is directly affected by any international events, as well as by situations of peace and war, as well as by the price of oil.