By Sama Marwan ,
Hani Milad, Head of the Gold Division at the Federation of Chambers of Commerce, stated that the local market is currently experiencing a state of stability in terms of the dollar exchange rate and supply and demand.
He emphasized that the only factor influencing gold prices at the moment is global changes.
Milad added, during a phone interview on the program “Kol El Zawaya,” broadcast on the “ON” satellite channel, that global changes are very intense throughout the day, with significant fluctuations in both rises and falls, which affect the price of gold in the local market.
He assured that sellers are not refraining from selling, but there are temporary pricing disruptions, leading to a state of uncertainty. However, once stability is achieved, sales proceed normally.
He confirmed that gold is a safe haven and has intrinsic value. In the long term, it yields successes and increases in value.
It is a secure form of savings and investment that is not worrisome, but it is not advisable to buy gold for short-term purposes and then sell it quickly.
He continued: “Gold is considered a long-term investment, and it is a safe investment vehicle.
It’s not discouraged to buy gold even at high prices, because its value increases.”
