Egyptians worry over gold losses

The decline in gold prices in Egypt has sparked fears among savers of potential losses, as many are engaging in purchasing gold bars and coins as popular savings methods. The price of a gram of 24-karat gold has dropped to around 6,542 Egyptian pounds, down from over 7,700 a month ago, while 21-karat gold has fallen to approximately 5,750 pounds. This has generated significant concern among Egyptians who rely on gold as a safe haven for investment. Experts attribute the decline to regional conditions, falling energy prices, and the Federal Reserve's interest rate hike policies, with forecasts suggesting that prices may rise again in the future.

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