First Gold ATM Machine in Egypt

The Egyptian Minister of Supply and Internal Trade, Ali Moselhi, announced the launch of the first ATM machine for selling gold in the country. Moselhi stated that the "ATM machine for selling gold supports digital transformation policies by launching a service for selling gold bars," emphasizing that it will provide a better experience for customers. He noted that the "ATM machine will be available in malls," confirming the establishment of a strong security system regarding it. Regarding gold prices in the local market, he said: "Current gold prices are fair as they are linked to the global market, and they move in accordance with the global dollar price. However, a year ago, prices were inflated to the extent that gold prices in Egypt were higher than anywhere else abroad. But after the Zero Customs initiative for arrivals from abroad, the market has been regulated." Today, the Minister of Supply and the Minister of Industry attended the third international exhibition for gold and jewelry "Nebio," where the first ATM machine was launched.