The head of the Jewelry and Jewelry Division at the Chambers of Commerce Hani Milad, clarified that circulated rumors regarding the stoppage of gold pricing are incorrect.
He explained that there is a state of instability and a rush to increase prices by some, which have led to the market to halt buying and selling due to exaggerated high prices – but there is no official decision to stop pricing.
Regarding his expectations for gold prices, Milan stated: “I believe that the coming period will witness stability in gold prices, especially since the prices are skyrocketed, and there is a tendency to control the market in the coming period.”
Milad told Al-Masry Al-Youm that the gold market is in an overall unstable state due to the fact that the demand for gold has increased significantly in the past period, hence there is a variation in buying and selling operations.
Edited translation from Al-Masry Al-Youm
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