Cairo – November 8, 2023: Egypt will launch its inaugural electronic auction for gold and silver next week, according the Assay and Weights Administration (AWA) on Tuesday. The event will place 66 gold bars and 41 silver bars for auction next Tuesday, explained Head of the AWA, Ahmed Soliman, enabled by the Egyptian Mercantile Exchange (EME) trading platform. The auction is within the government’s overall goal to diversify the ways gold is available to the public, Farag explained. Gold has been on the government’s mind lately, with a new resolution against unregistered gold trading and launching the country’s inaugural gold investment fund. In May, Egypt launched its first-ever gold investment fund, managed by a joint venture between Evolve Holding and Azimut Egypt.
