Rafik Abbasy, vice president of the Gold Industry Chamber, has said gold purchases are “disappointingly” low these days, contrary to the norm during the holy month of Ramadan.
“Actually, it’s been like this since the January 2011 revolution,” he added.
Abbasy revealed that gold factories were forced to lay off 70 percent of their labour force in 2012. “They want a gold bourse in Egypt to deal in gold extracted from Egyptian mines,” he said. “But the authorities did not respond.”
Edited translation from Al-Masry Al-Youm