![Attaba Square in Cairo. The surge in gold rates was caused by Egyptians looking to hold value as the local currency depreciated. AFP](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/5OFR6EROCVEUVDYKK4XRV7FUHA.jpg?smart=true&auth=b7aa39e86a47d0f7529f20bb05295dbe4e4f47944ab8ddb6fffd3fdf9c6aa272&width=400&height=225)
Attaba Square in Cairo. The surge in gold rates was caused by Egyptians looking to hold value as the local currency depreciated. AFP
Attaba Square in Cairo. The surge in gold rates was caused by Egyptians looking to hold value as the local currency depreciated. AFPEgypt's first gold investment fund raises $5 million two weeks after launch
It was 15 times oversubscribed, with the number of investors exceeding 7,000