By: Ahmed Ammar
Cairo – Mubasher: Egypt’s gold exports surged by 132% quarter-on-quarter during the second quarter of fiscal year 2018/2019, data by the Central Bank of Egypt (CBE) showed.
The North African nation’s exports of the precious metal stood at $328 million in the October-December period of 2018, compared to $141.3 million in the previous quarter, according to the CBE’s bulletin.
Year-on-year, the country’s gold exports slightly fell from $324 million in Q2 of FY17/18.
The country’s total exports of commodities rose to $7.48 billion in Q2 of FY18/19, compared to $6.78 billion in the prior quarter.
It is noteworthy that the Egyptian Mineral Resources General Authority (EMRA) achieved about EGP 2.45 billion in revenues in FY17/18.
Globally, gold rose at Friday’s settlement to close at $1,400.1 per ounce, marking the highest level since 2013.
