Egypt. Chamber of Commerce advises gold owners

Nadi Naguib, gold secretary at the Cairo Chamber of Commerce, gave advice to gold owners who don’t want to use it.

In television statements, the Naguib Club explained that the price of a gram of 21 carat gold was fixed at 1,730 pounds today, Thursday, as its world price reached $ 1,830 per ounce, and 18 carat fixed 1,483 pounds. after the issuance of certificates with a return of 25%.

Naguib pointed out that the gold investor persists, especially since the metal gives relative stability to its owners, pointing out that citizens who own gold and do not use it will sell it and deposit its value in banks to receive 25% per annum. This will not have a significant impact on gold prices, but it is possible that there will be a slight impact, and in 10 days it will be known whether gold will become cheaper or more expensive.

He added: “Whoever has gold does not use it, he sells it and receives 25% per annum.”

Source: Al-Masri Al-Youm.