The Cabinet on Saturday 07/05/2022 refuted reports on halting buying and selling of gold in the country due to the unstable prices.
Such reports are totally baseless, the cabinet media center said.
The pricing of gold in Egypt is subject to supply and demand mechanisms and is based on the global prices of gold per ounce at stock exchanges, it added.
The Cabinet warned that “such rumors aim to harm the Egyptian economy” and vowed legal measures against those spreading false information in this regard.
Source: State Information Service Egypt