Egyptians Turn to Gold Investment Funds Amid Economic Instability ...Egypt

Egyptian Streets - News
Egyptians Turn to Gold Investment Funds Amid Economic Instability
source : Egyptian Streets ( Egypt ) () 59
During times of crisis, gold emerged as a safe haven for both individuals and investors seeking financial stability.  In 2023, Egyptians set a record by purchasing 57 tons of gold, reflecting a 10.7 percent rise over the previous year, as financially capable Egyptians have started purchasing gold jewelry from local jewelers or investing in gold-backed certificates offered by investment funds. After the Financial Regulatory Authority (FRA) launched its first gold investment funds in May of 2023, EZ Gold, 70,150 clients subscribed. As of January, its assets amounted to EGP 743.1 million (USD 15.3 million).  In January 2024, the second fund, the Beltone Evolve Gold Investment Fund, also known a

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