Gold Dealers: "There Is Anticipation in Gold Market for Surge in Prices"

The demand for gold in the market is currently decreasing despite a drop in local prices, according to gold trader Hossam Al-Hadi.

This is due to various factors, including preparations for the upcoming school season, and the fact that gold prices are determined by international stock exchange prices and the dollar exchange rate in the local market.

Al-Hadi believes that the current stability in the local market may be short-lived, as gold prices may rise on the global stock market if the US Federal Reserve stops implementing strict monetary policies.

On the other hand, economic expert Khaled Abo Shadi disagrees with the notion that the current time represents a decline in buying and selling activity.

He noted that investment in gold has increased during the recent period as citizens consider it a safe haven. Abo Shadi also explained that the start of the school season has not affected the local market much, as demand for gold increases when citizens have surplus financial liquidity, given that school costs are essential expenses.

Moreover, he stressed that economic conditions affect the trading movement in the gold markets, and it is natural for the local market to experience temporary stability after a significant rise in prices in recent months.

The economic expert pointed out that all strategic commodities experience fluctuations in trading, with increases followed by decreases as market requirements and economic conditions dictate.

Contributed by Ahmed Emam