cairo – business hub
Engineer Ibrahim Al-Arabi, head of the General Federation of Chambers of Commerce, denied what is being circulated on some social media sites about the suspension of the local gold market company “buying and selling”, stressing that the documents circulated in this regard have nothing to do with the chambers of commerce and the news circulated in this regard is naked. Absolutely correct, as he stressed that no government or private instructions were issued to stop the movement of the markets, and that the purpose of those rumors was to destabilize the gold market.
Al-Arabi explained that the Chambers of Commerce had monitored a series of attempts during the last period to export a number of rumors about the various commodity sectors to create confusion in the markets. He stressed that the commercial movement is proceeding according to its normal rates in various sectors with the availability of all kinds of goods in the markets.
For his part, Hani Gaid, head of the General Division for Gold and Jewelery at the General Federation of Chambers of Commerce, said that the rise in gold prices in local markets is subject to the mechanisms of
The Federation of Chambers of Commerce denies stopping the movement in the gold markets and stresses the regularity of the movement of buying and selling
Engineer Ibrahim Al-Arabi, head of the General Federation of Chambers of Commerce, denied what is being circulated on some social media sites about the suspension of the local gold market company “buying and selling”, stressing that the documents circulated in this regard have nothing to do with the chambers of commerce and the news circulated in this regard is naked. Absolutely correct, as he stressed that no government or private instructions were issued to stop the movement of the markets, and that the purpose of those rumors was to destabilize the gold market.
Al-Arabi explained that the Chambers of Commerce had monitored a series of attempts during the last period to export a number of rumors about the various commodity sectors to create confusion in the markets. He stressed that the commercial movement is proceeding according to its normal rates in various sectors with the availability of all kinds of goods in the markets.
For his part, Hani Gayed, head of the General Division of Gold and Jewelery at the General Federation of Chambers of Commerce, said that the rise in gold prices in local markets is subject to the mechanisms of supply and demand.
Milad attributed the rise in gold products of various calibers to the high volume of domestic demand for gold ore and gold works, with a decrease in the supply of ore due to the import difficulties that markets face in addition to the movement of the dollar price and the state of confusion in global markets, in addition to the high global demand for gold ore. These factors have a direct impact on the rise in prices in the local markets, stressing that all of these factors may affect prices, but they have no effect in any way on the regularity of the movement of buying and selling in the markets.
He stressed that the commercial movement is proceeding according to its normal rates in various sectors with the availability of all kinds of goods in the markets.
The General Division of Gold in the Federation of Chambers of Commerce issued an official statement yesterday confirming the incorrectness of the documents being circulated claiming that the movement of buying and selling in the local markets had stopped. .
Supply and demand .
Milad attributed the rise in gold products of various calibers to the high volume of domestic demand for gold ore and gold works, with a decrease in the supply of ore due to the import difficulties that markets face in addition to the movement of the dollar price and the state of confusion in global markets, in addition to the high global demand for gold ore. These factors have a direct impact on the rise in prices in the local markets, stressing that all of these factors may affect prices, but they have no effect in any way on the regularity of the movement of buying and selling in the markets.
Milad appealed to all traders in the gold sector not to be drawn into such rumors and to continue the movement of buying and selling in its natural form.
The General Division of Gold in the Federation of Chambers of Commerce issued an official statement yesterday confirming the incorrectness of the documents being circulated claiming that the movement of buying and selling in the local markets had stopped. .
