Hany Milad, head of the Gold Division, affirmed that the local gold market is currently experiencing a phase of relative stability following the recent sharp waves of volatility, urging citizens to remain calm and avoid making hasty decisions to buy or sell amid the current price conditions.
In a phone interview with “Ala Masoulity” program on Sada El-Balad TV, Milad explained that the decline in the price of 21-karat gold to a range between EGP 6,450 and 6,480 per gram, after previously reaching record levels near EGP 7,500, is a natural development in light of ongoing global market disruptions, in addition to escalating geopolitical tensions that are directly impacting precious metals markets.
The head of the division stressed that gold remains a long-term savings and investment tool, not a means for achieving quick profits through short-term speculation. He advised citizens who currently own gold not to sell at this time in order to avoid unjustified losses, especially as expectations persist that prices may return to an upward trajectory over the medium and long term.
Regarding savings patterns, Milad called for reviving the culture of purchasing gold jewelry, considering it a means that combines adornment with savings at the same time. He emphasized that all forms of gold—whether bullion or jewelry—move in the same price direction, with jewelry offering the added advantage of being a usable physical asset.
He also noted that gold outperforms real estate investment in terms of ease and speed of liquidation when cash is needed, and enjoys a higher level of safety compared to silver and other metals when considering long-term investment objectives.
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