09:18 PM Tuesday 09 January 2024
Books – Muhammad Sami
Dr. Naji Farag, advisor to the Minister of Supply for gold industry affairs, expected gold prices to stabilize during the coming period.
Farag said in exclusive statements to Masrawy: The reasons for the decline will be the result of the possibility of a decline in gold globally, in addition to the presence of high-yield certificates, which will cause stability and some decline in prices.
He advised citizens not to buy gold until after 15 days after its decline in the goldsmiths’ markets, expecting that a gram would fall by 50 pounds by the end of the day, becoming 21 karat at 3,230 compared to 3,280 pounds, 18 karat at 2,768 compared to 2,818 pounds, and 24 karat at 3,690 compared to 3,740 pounds.
It is noteworthy that the National Bank of Egypt and Egypt Bank decided to offer two high-interest one-year certificates, the first with an annual return of 23.5%, disbursed monthly, and the second with an annual return of 27%, to be disbursed at the end of its term, starting tomorrow, Friday.
The offering of the high-yield certificate comes with the start of the first maturity of the two one-year certificates that were offered at the National Bank and Misr Bank on January 4, 2023, with a return of 22.5% disbursed monthly and 25% for the annual return.
2024-01-09 19:18:00
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