Saeed Embaby, CEO of iSagha.com, a platform for trading gold and jewellery, said that gold dealers are currently pricing the dollar at a lower value than its prices in the parallel market. He revealed: “There are three main factors that determine gold prices in general, namely international prices, the dollar, and supply and demand. Embaby noted that iSagha is the first application in Egypt to display gold prices online since 2016, and then added currency and silver prices. iSagha plans to make the documents of the first gold investment fund AZ Gold (AZG) available through its platform starting next year. Last June, Azimut Egypt, and Evolve Investment closed the first subscription for the gold investment fund AZG, bringing the size of the first tranche of subscriptions to nearly EGP152.8m.
Source: Daily News Egypt November 20, 2023 04:54 UTC