The approach of making or saving money has been one of the most popular reasons to buy gold during this critical time, which is witnessing a state of sharp price fluctuations.
Buying and selling in the short term carries risk and loss for those wishing to speculate because gold is a long-standing investment and a hedge against inflation.
Fadi Kamel, Executive Director of Dahab Misr Company for Gold Trade, said that one of the key principles of investing in gold is to never invest without a purpose.
He explained that the timing of your buying can greatly impact the profit or the saving value you might make from your gold purchase.
"However, unlike most other assets, gold has a long-standing value," noted Kamel, adding that the challenge is buying and selling gold at the best time like for example, after a year or more than 6 months in use, so that they can ensure high profitability.
The gold expert also said that gold should be part of a diversified investment portfolio, noting that the yellow metal will hold or increase in value during periods of economic uncertainty, and market turbulence. "For example, gold Jumped 876 pounds, by 110%, during 2022 transactions."
In the same connection, Kamel indicated that the state of confusion in gold markets is driven by the accumulated pressures on Egypt's currency.
The confluence factors like the depreciation of the Egyptian pound against the US dollar, and speculation in the gold market, as well as the dollar, have impacted gold prices and continue to dominate the playing field, he explained.
Contributed by Ahmed Emam