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Gold bullion leads as jewelry lags
There has been a significant shift in Egypt's gold market, with the prominence of gold jewelry declining in favor of bullion and Egyptian pounds as long-term investment options. This change is driven by economic fluctuations and rising manufacturing costs. Approximately 90% of gold sales now focus on bullion and pounds, reflecting a shift in consumer priorities toward preserving their savings, despite a substantial drop in demand for jewelry, even though seasonal demand remains. Experts confirm that this transformation indicates a move from decorative use to savings, benefiting from ease of sale and lower costs. Meanwhile, the gold jewelry sector faces challenges due to rising expenses and weakened purchasing power.
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