Egyptians Buying GoldAn article about gold buying in EGYPT....from G.A.T. A. ........ Richard
Gold-buying mania in Egypt as national currency loses value  |
From Middle East Eye, London
Saturday, December 10, 2022
Egyptians are hoarding as much gold as they can, trying to protect their savings, as their national currency continues to lose value against foreign currencies.
The stampede for gold has raised its price in the local market sharply, enticing specialists to warn against what might turn into a gold price bubble.
Gold is now priced in relation to the exchange rate of the U.S. dollar in the parallel, not in the official, market, independent economist, Mamdouh al-Wali, told Middle East Eye. "Speculation is very high, raising uncertainties about the price of this metal and other commodities in the future," he said. ...
... For the remainder of the report:
https://www.middleeasteye.net/news/egypt-gold-buying-mania-national-currency-loses-value