On Monday, gold domestic markets were hit by instability on the beginning of the tradings. Gold prices highly surged to set new records which drove various sellers and platforms to halt the process of pricing and selling.
Their move justified concerns over manipulation in domestic markets, especially during the Christmas break for international markets.
Lotfy Mounib, the Deputy Chief of the Division of Gold and Jewellery at the General Federation of Chambers of Commerce, said that the process of buying and selling was resumed after the stability of prices.
Previously, he pointed out that the market witnesses disturbances and instability. At that time, the gram of gold surpassed EGP 3150.
Mounib continued that buying and selling process halted for an hour, followed the stoping of the process of the pricing on the trading platforms.
He asserted the activity of markets are now stable and normal after announcing the price of 21-karat at EGP 3140.
Contributed by: Rana Atef
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