Egyptian customers of gold products are down 15% in the third quarter of 2020

The Egyptian buyers of gold products decreased by 15% during the third quarter of the current year to about 4.4 tons from 5.1 tons in the same period of the previous year, according to the report of the World Council for Gold published on the website today.

And the Egyptian customers withdrew from the gold as a safe place after the decision of the Egyptian central government to release the exchange rate in March 2024 and the black market disappeared for trading.

During the years 2022 and 2023 and some of the first months of 2024, protect the Egyptians from fraud in the exchange rate of the dollar against the pound, and the increase in the rate of inflation, increasing the purchase of gold, instead of investing in the local currency, protect against any drop in the pound.