5 million pounds in profit from gold sales at tourism and shopping festival

Gold merchants taking part in the second festival for tourism and shopping, held on July 20 - August 20, have achieved profits valued at 5 million pounds, Samah Nabil, the advisor of the World Gold Council in Cairo said.

Nabil added that the profits from gold were achieved through 340 jewelery galleries that took part in the festival in Cairo and Alexandria, where a revival took place in the Egyptian gold market, despite the state of recession in the world market.

The demand for gold at the festival led to the increase of gold profits by 50% over last year, while gold prizes worth L.E 2 million were distributed daily to winners.