82 Days
Source:
المصري اليوم
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How does gold maintain its significance for buyers amid ongoing fluctuations
The article focuses on the enduring appeal of gold as a safe haven, despite its recent decline in global prices this week, with the local market price ranging between 5,750 and 5,950 Egyptian pounds per ounce. Experts clarify that demand for gold remains steady as individuals continue to convert their surplus funds into it as a hedge against market volatility and currency fluctuations, especially amid increasing wedding and social ceremony needs in Egypt. They emphasize that gold maintains its historical value and is considered one of the best safeguards for wealth during crises, despite the current price declines, which are the largest in six weeks, driven by tensions between the US and Iran, rising energy prices, and expectations of an increase in US interest rates. Experts underline the importance of only selling gold when necessary and note that individuals continue to convert some of their financial surpluses into gold to preserve monetary stability and maintain a secure reserve.
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