The difference between investing in a gold fund and buying from "goldsmiths"?
Investing in the gold fund is one of the most important tools that will help Egyptians of all social classes to preserve the value of their money by benefiting from buying gold as a store of long-term value.
Shrouq
The yellow metal (gold) is characterized as a "safe haven" for a large segment of Egyptians, amid the waves of decline in the Egyptian pound.
Investing in the gold fund is one of the most important tools that will help Egyptians of all social classes to preserve the value of their money by benefiting from buying gold as a store of long-term value.
Egyptians’ purchase rates of bullion and gold pounds doubled on an annual basis, reaching 7 tons in the first quarter of 2023; Thus, Egypt ranks fifth in the world in terms of demand for them.
Today, Sunday, the Financial Regulatory Authority launches the first fund to invest in gold on the Egyptian Stock Exchange, and through it allows institutions and individuals to invest in gold without buying physical gold itself.
The gold fund
The gold fund has a competitive advantage that may make it the first choice for those wishing to invest their money in the yellow metal, which is the value of the money used in the investment.
The main difference between the gold fund and the goldsmith's shop is that the investment in the fund is made by purchasing a document with a nominal value of 10 pounds only.
As for buying from goldsmiths, it is necessary to pay the actual value of gold, which is not less than 2300 per gram of 18 karat; This may not be available with those wishing to invest in the yellow metal in small amounts.
All you need to know about the gold investment fund:
The gold investment fund is the first of its kind in Egypt, and the fund is launched by establishing an entity consisting of two companies to invest in gold in Egypt, which allows institutions and individuals to invest in gold through the Egyptian Stock Exchange.
The first gold investment fund will be launched through the cooperation of the two companies, “Evolve” Investment Holding, with Azimut Egypt, to manage investment funds.
Gold fund investment document
The investment in the gold fund will be the General Authority for Financial Supervision today, through a document issued by the fund that determines the amount of grams that each investor owns.
One document is priced at a nominal value of 10 pounds, provided that the value of the minimum investment within the fund is announced, and the mechanism for refunding the funds, whether in cash or in-kind gold.
When the investor decides to exit the fund, he can get what he owns in gold or its equivalent in money.
