Egypt’s gold division has warned citizens against buying gold through electronic platforms and apps, calling the method disastrous.
In this regard, the head of the gold jewelry department of the General Federation of Chambers of Commerce, Hani Milad, commented on the proliferation of trading and gold trading platforms and applications, explaining that this is a disastrous affair, and none of these platforms issued any licenses from accredited parties, warning citizens against purchases through these platforms or from certain individuals selling their gold artifacts on certain social media pages.
Hani Milad added: “The offer could be stolen gold or counterfeit gold and the purchase by a person from the seller and merchant ensures that the consumer receives an approved invoice with which he can guarantee his right in case of any problem or his desire to sell. .”
Milad also explained by saying, “We are living in a time period where we are suffering from local and global economic conditions that have reduced liquidity and increased the willingness of citizens to buy gold as a safe haven instead of fluctuating. rates” as he proposed that dependency on gold be globally increased in another currency like the dollar.
And about the circulating news that Egypt is exporting gold, Milad confirmed that this is not true, but that gold artifacts are being exported, a limited amount that happened in just two months from the beginning of this year, and it was replaced by gold ores and the difference paid as work.
Source: “Sada El Balad”
