2023-05-04 20:00:00
Ahmed Hassan wrote
Thursday, May 04, 2023 11:00 PM
Sameh Abdel Hakim, a member of the Gold Division at the Chamber of Commerce, said that the global price of gold almost rose by more than $40, while the local price of gold was recording remarkable stability and witnessed some limited movement due to a noticeable decline in the demand for gold bars in Egypt.
He indicated in statements to “The Seventh Day” that the return of calm to the gold market following a large wave of rises reached the price of gold to levels of 2900 pounds in some days of peak demand, but we now notice a decline in demand following several assurances that gold prices are exaggerated.
And Sameh Abdel Hakim estimated that the gold market would witness more calm and stability with the availability of sufficient supply for demand, especially since demand decreased in the past two days, which portends a further decline in the event of a continued decline in demand by consumers.
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