توقعات باستمرار الزيادة في أسعار الذهب في مصر

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Transcript

00:00 The rising prices of gold have been seen by the local market in Egypt,

00:05 affecting the global price of the gold to a record level

00:09 due to the rising geopolitical tensions in the region.

00:13 These are rising prices that may continue, as many expect,

00:17 to rise as the global inflation rates increase,

00:20 which has an impact on the local price movement and on the buying and selling rates.

00:25 The local price movement increases when the global gold price increases,

00:29 but the increase is also in the area of the surplus.

00:33 But the movement is always a little bit stagnant or the movement is weak,

00:38 because most people invest their money in banks.

00:41 Banks invest money that is not in any trade.

00:44 Who earns 25% or 30% in a trade? It's hard.

00:49 Despite the rising prices of gold locally,

00:52 it is still below the standard levels that it reached at the beginning of the year

00:56 due to the gap between the exchange rate in the official and the fair markets,

01:00 before the prices dropped after the decision to lower the exchange rate in March.

01:05 Many expect that some of the buying and selling decisions will be postponed

01:09 due to the current rises and the desire to keep gold as a safe deposit

01:13 to face the high inflation rates.

01:16 Regarding the current situation, these are the safe deposits

01:20 that we can invest our money in and we are confident.

01:23 Regarding the current situation and the wars we are in,

01:27 all of this is a sign that the gold price is increasing.

01:32 I think that the prices are too high compared to the global market prices.

01:39 Therefore, people should be a little bit more patient.

01:43 They should not buy at this rate and not talk about gold in this way.

01:48 The world should calm down a little bit.

01:50 A few months ago, the prices were much higher than now.

01:53 But now, the prices have dropped a little bit and they will increase again.

01:57 Therefore, people should buy now.

01:59 The gold prices are high and I don't think that they will drop at all.

02:04 But this is the best investment.

02:06 Even if someone buys something, he will buy a small amount.

02:09 There is no other solution.

02:11 The data of the International Gold Council indicate that the amount of gold purchased by Egyptians

02:16 reached 5.5 tonnes in the past year,

02:20 with a rise of 11% compared to 2022.

02:25 The prices of gold in Egypt continue to rise and to touch their level of price

02:30 due to the global movements due to the rise of geopolitical tensions in the region.

02:38 Farouk Youssef, CNBC, Al-Qahira.