Fatshimetrie: Analysis of the 21 carat gold price in Egypt for the year 2022
The 21 carat gold price in Egypt for the year 2022 has seen notable fluctuations, arousing the interest of investors and market observers. The former Secretary General of the Gold Division, Nageeb Najieb, recently shared his outlook on the best investment options in gold, highlighting the potential of gold bars and gold sovereigns due to their lower manufacturing costs compared to gold jewelry.
According to Najieb, the local price of gold has recorded a significant decline, influenced by the global downward trend in gold prices. This reduction was observed in the various markets, with the value of 21 carats hovering around LE 3,775, compared to LE 3,820 previously.
The expert points out that this decline represents an attractive buying opportunity at the moment, predicting a recovery in gold prices both locally and globally in the near future. He attributes the fall in gold prices to low demand due to a lack of liquidity, leading to a downward quote of the ounce to $2,639, down from the previous $2,665.
This situation reflects the current economic context and highlights the challenges facing the gold market. However, despite these fluctuations, many experts remain optimistic about a recovery in prices in the near future, supported by a growing demand for gold as a traditional safe haven.
In conclusion, the analysis of the 21 carat gold quote in Egypt for the year 2022 highlights the dynamics of the gold market and underlines the importance of remaining attentive to trends and investment opportunities. This period of turbulence can offer interesting perspectives for informed investors, while highlighting the need for a cautious and informed approach in a sector as volatile as gold.