The Gold, Jewelry, and Precious Metals Division of the Chamber of Mineral Industries, stated that the current gold prices in the market are too high and do not reflect their actual value. This is due to citizens rushing to buy gold, which has resulted in a speculative market.
In response, the Division has warned people to exercise caution when purchasing gold at this time and not to believe rumors or social media posts, as they may result in significant financial losses.
It is important to note that today, January 25, 2024, the price of one gram of 21-karat gold in Egypt is trading at 3,850 pounds, which indicates a rise in demand for gold in the Egyptian market.
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