24 Hrs
Source:
المصري اليوم
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Jewelry stones rival gold amid rising prices
Investors in Egypt are increasingly turning to the gemstone market as an alternative and potentially profitable investment, even though gold remains the most popular means of investing. The prices of rare types such as coral, emerald, and pearl are rising, with expectations of significantly increased returns. Gemstones are considered a lucrative investment, especially as their prices climb; small pieces can be purchased starting from 100,000 Egyptian pounds and sold later for profit. Their prices vary greatly depending on the type, size, quality, and rarity—for example, the price per carat of coral begins at 7,600 pounds, while the price per carat of emerald ranges between 5,300 and 3 million pounds. Investors also face challenges in distinguishing genuine stones from counterfeit ones. Despite the high demand, particularly among the wealthy, the gemstone market is still not widely prevalent among Egyptians. There is notable interest from women in purchasing pearls, and it is observed that Gulf countries and Western nations place a greater emphasis on gemstones compared to gold, which is considered a less prioritized investment in those regions.
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