Yet many Egyptian citizens are still wondering whether now is the right time to invest. See spoke to the experts of the Cairo Chamber of Commerce's Gold Division to find out their advice.
Sada El Balad English news site held an introductory seminar for the representatives of the Cairo Chamber of Commerce's Gold Division on its mandates and the role it has been playing in monitoring, regulating the gold market.
During a speech from the gold maven expert on Thursday at the seminar, Osama Ahmed, the Secretary-General of the Gold Division at the Chamber of Commerce in Cairo, explained that the surge would be fueled by continued global uncertainty — at least over the next few years.
“There is no good or specific time to buy gold,” said Ahmed, who indicated that the surge would be fueled by continued global uncertainty — at least over the next few years.
According to the statement by the maven gold expert, he explained "Gold is typically seen as a “safe haven” asset in times of uncertainty because it is less volatile than other investments, like stocks."
"In fact, the metal moves inversely to the foreign currency, meaning that when the US dollar moves lower — as it has done lately — gold moves higher," he added.
"Since then, however, gold stakeholders have returned to gold, seeing the valuable metal as a safe store for their money."
While gold is one of the world’s earliest forms of currency, there are now various ways to hold precious metal for investment purposes.
“Gold buyers should first decide why they want to own gold,” added Osama. “Is it for return potential or portfolio persification?”
"Then they should familiarize themselves with the various options and the risks involved," he explained.
In the same context, he noted the banks' tendency to lower interest rates, and the decision of the Egyptian National Bank and the Bank of Egypt to suspend the issuance of the annual platinum 15% return certificate for a year, led to a recovery in market traffic as citizens went to pump part of their savings into buying gold to save money.
https://youtu.be/OQsQGalMduk
Contributed by Ahmed Emam
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