Arab Finance: Egypt’s Assay and Weights Authority is considering offering confiscated gold for trading on the Egyptian Mercantile Exchange (EMX), Minister of Supply and Internal Trade Sherif Farouk stated.

This came during a meeting between Farouk, Head of the General Division for Gold and Jewelry at the Federation of Egyptian Chambers of Commerce (FEDCOC) Hany Milad, and the EMX’s Chairman Zakaria Hamza to mull collaboration.

During the meeting, Sherif stressed the need to increase the market supply of gold to control prices.

For his part, Hamza noted that the EMX is planning to offer new commodities for trading this year.

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