5 Days
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المصري اليوم
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Source: المصري اليوم
5 Daysالمصري اليوم
Source: المصري اليوم
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The high making charges on gold jewelry—8% to 10%, and not recoverable when resold—have led more Egyptians to buy gold bars and coins, whose making charges can be below 1% and whose resale entails smaller losses, according to Lotfi Mounib, deputy head of the Gold and Jewelry Division. He said the market offers three arrangements for jewelry: selling a piece by its total weight, with the weight of any stones deducted upon resale; guaranteeing a buyback at its full weight in exchange for higher making charges; or buying pieces without stones. Savers are turning to bars and coins, while buyers seeking jewelry or gifts weigh making charges against resale guarantees.
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