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The head of the general division of the goldsmiths of the General Federation of Chambers of Commerce of Egypt revealed that the volume of goldsmith trade in Egypt is 55 tons per year, the total stamped in the 39th year. interest in measuring and centering scales and gold gauges.
Wasfi thinks that Egypt lives on a lake of gold, but the extraction is not active because of certain laws, and explained that some outlaws carry out explorations random and that some remove evidence of the existence of mines in the exploration area, making expensive exploration difficult.
In an interview with Sputnik Radio, Wasfi said the demand for goldsmiths had dropped to 25% due to changing priorities of citizens because of high prices.
Wasfi pointed out that the strength of the Egyptian pound had helped curb the 18% rise in gold, pointing out that the current price hike was due to higher prices globally more than the value of rising of the Egyptian pound against the dollar.
Wasfi said Egypt has 120 gold mines, 99 of which will certainly contain gold, noting that work is also under way on mines in ancient Egypt where gold production has not been achieved. has not been completed and stocks have run out due to weak technology.
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