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2026-11-08T00:00:00.000Z

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Caution on app-based gold

Caution on app-based gold

The Gold and Precious Metals Division of the Federation of Egyptian Industries warned against buying gold balances through electronic apps without taking possession of the metal, as there may be insufficient guarantees for recovering the money or receiving the gold if the platform shuts down. It advised consumers to buy from well-known shops and dealers, take physical delivery, check the gold’s karat and official hallmark, and obtain a detailed invoice. For online purchases, it urged consumers to deal only with pages run by established shops with physical locations and reliable contact information, and to avoid transferring money to unknown parties.

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