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Rafiq Abbas, head of the gold division of the Federation of Egyptian Industries, said the drop in the yellow metal in recent days is temporary and that prices will rise in the coming period due to increased tension between the United States and China.
Global tension is pushing governments and financial institutions to buy gold in large quantities to preserve the value of their money. The yellow metal is therefore expected to increase in the absence of solutions to global political and economic problems.
He pointed out that gold is not an investment, but that it saves money, pointing out that the fall in the price of gold could be due to speculation or gambling on the stock market, or that it was possible to put an end to tensions between China and the United States.
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