Gold price fluctuation, national projects, tourism occupy Egypt’s talking heads
There was not much of significance happening on the airwaves last night. Alongside the talking heads’ ongoing fixation on fluctuating gold prices, national projects and our ancient relics were the order of the day.
Gold futures continued to fall for two consecutive days, dropping as much as USD 50 on Friday alone, said head of the Federation of Egyptian Industries’ gold division Rafiq Abbas in a phone-in to Hona Al Asema (watch, runtime: 3:59). Abbas explained the relationship between the outlook on global economic growth and the price of gold, which is a safe haven asset. He didn’t have a concrete explanation for the drop in prices but speculated that either major investors in gold are anticipating positive news for the global economy or some sort of market manipulation to affect equity prices is at play. Either way, Abbas doesn’t expect gold prices to continue falling.
Madbouly tours more national projects: Prime Minister Mostafa Madbouly paid a visit yesterday to Minya to inspect progress on the 22 km Samalout axis currently being built over the Nile, and the soon-to-be inaugurated Samalout public hospital, which is in the final stages of renovation, Hona Al Asema’s Reham Ibrahim reported (watch, runtime: 2:30).
The Travel says our country is among the most fascinating: An article published on Friday earned valuable airtime on Al Hayah Al Youm for providing 10 numbered reasons for why “Egypt Is One Of The Most Fascinating Countries In The World” (watch, runtime: 7:18). The pyramids and Pharaonic tombs, our “overwhelming patriotism” and outwardly Egyptian pride, the people (and the camels), and our turquoise coral-reef-filled waters all made it on the list.