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General Gold Division: Citizens' fears of a sharp decline in gold prices have affected sales.

Waleed Farouk Engineer Lotfy Mounib, Vice President of the Gold and Jewelry Division at the Federation of Egyptian Chambers of Commerce, said that the economic uncertainty in global markets, resulting from the US administration's imposition of tariffs at the beginning of April, has kept gold prices on the global stock exchange above $3,000 per ounce. He added that fears of a global trade war between the United States on the one hand and China, Brazil, and the European Union countries on the other, along with geopolitical tensions, have boosted gold purchases for hedging purposes. He noted that rising prices on the global stock exchange have consequently led to higher gold prices in local markets, negatively impacting purchasing activity. This has also increased citizens' fears of a sudden price collapse, as happened in March 2024, when prices suddenly fell from 4,200 to 2,600 Egyptian pounds, affected by the exchange rate. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) News Ireland Replaces Former Israeli Embassy with Palestinian Museum News Israeli PM Diagnosed with Stage 3 Prostate Cancer Lifestyle Maguy Farah Reveals 2025 Expectations for Pisces News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple