Nadi Najib, Secretary-General of the Gold Department of the Federation of Chambers of Commerce, said that the price of gold can not be determined because it is a global commodity and is directly affected by all international events, because it is influenced by the price of oil and the state of peace and war.
Naguib added, in a telephone interview to the program “Al-Masry Effendi” broadcast on the channel “Al-Mehwar”, that the present time is the most suitable time to buy gold.
He explained that when one gram of gold reached 788 pounds, foreign investors would buy large quantities, resulting in a drop in the price of gold to 775 pounds.
He pointed out that gold prices are expected to increase in the future, bringing the price of a gram of gold to 900 pounds by the end of this year.
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