Gold markets in Egypt are witnessing confusion as a result of an official campaign against major gold traders, under the pretext of manipulating prices. The demand for buying gold increased by more than 30% during the year 2023 compared to the year 2022.
The price of a gram of 21 carat gold, which is the most traded in Egypt, has been fluctuating up and down for days around 4,000 pounds ($130 according to official price, and approximately $60 according to the parallel market for the dollar)