Egypt to launch 1st online gold, silver auction on November 14th

Updated 11/7/2023 8:55:00 AM
Egypt to launch 1st online gold, silver auction on November 14th

Arab Finance: The Egyptian Assay and Weights Administration is planning to launch the first online gold and silver auction via the Egyptian Mercantile Exchange (EMX) platform on November 14th, Al Borsa News reported, citing the administration’s Chairman Ahmed Soliman.

The auction’s first session will include 66 gold bars and 41 silver ones, Soliman said.

The auction targets traders and manufacturers, Soliman noted, adding that the proceeds would be transferred to the state’s treasury.

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