The head of Egypt’s Gold and Jewelry Division at the Federation of Chambers of Commerce, Hany Milad, assured that gold will remain a safe haven and one of the most important stores of value, adding that the price fluctuations the market is witnessing are normal given global economic and political changes.
During a phone interview with Al-Nahar TV on Sunday, Milad explained that the current decline in gold prices is not a cause for concern.
He added that gold has proven over the years its ability to preserve the value of money and generate long-term gains for investors, emphasizing that gold investment should not be evaluated based on short-term price increases or decreases.
Real Loss When Selling
The head of the gold division pointed out that citizens who bought gold coins at high price levels did not incur actual losses as long as they did not sell them.
Milad explained that the current decline represents a loss only on paper, while the real loss occurs when gold is sold at a price lower than the purchase price.
He added that investing in gold aims to achieve long-term returns, not buying with the intention of reselling it after a month or two.
He emphasized that this strategy does not reflect the true nature of investing in the precious metal.
Factors Pressuring Gold Prices
Milad explained that gold prices are currently facing pressure from several factors, including rising oil prices, the monetary policy adopted by the US Federal Reserve, and the strength of the dollar.
He pointed out that these factors are temporary and cannot be relied upon solely to assess gold’s performance.
Gold Price Forecasts Until End of 2026
Milad emphasized that predicting the trajectory of gold prices, especially for 21-karat gold, until the end of 2026 remains extremely difficult, given the rapid changes in global markets and international monetary policies.
Edited translation from Al-Masry Al-Youm
