The Secretary of the Gold Division at the Federation of Egyptian Chambers of Commerce Nady Naguib said that he expects gold prices to sharply drop at the beginning of the second week of Ramadan. Speaking to Al-Masry Al-Youm, Naguib explained that gold shops usually witness a recession during Ramadan, with people refraining from weddings or engagements during this month. Naguib said that despite the fact that determining the price of gold in Egypt is mainly subject to the international stock markets, the world’s financiers are aware of the seasons and geographical areas and the calm they witness in their dealings with the gold shops. He expected that the price of gold from the first day of Ra
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