The shares of imported gold are declining against the Egyptian industry due to the loss of the weight of the cloves

The shares of imported gold are declining against the Egyptian industry due to the loss of the weight of the cloves
The shares of imported gold are declining against the Egyptian industry due to the loss of the weight of the cloves

Mamdouh Abdullah, an expert in precious metals markets, confirmed that the gold of the local industry has become of a quality that exceeds the imported gold, pointing to the importance of raising awareness of the need to buy national production instead of importing, because Egyptian factories now offer their production that exceeds foreign ones in terms of the final finish, as well as the possibility of reselling The national product with cloves.

He added, in special statements, that the imported gold products, when reselling them, expose the consumer to a complete loss of workmanship and a loss of the original weight of the gold piece because the imported product is not resold in cloves, so the consumer loses the cloves, whatever their weight. He explained that the market received during the past month large quantities of imported gold, and this, of course, eats the share of the local product, and there must be awareness of the consumer that the national gold industry is better than the imported one, because of the size of the losses it is exposed to upon resale. He stressed that the Egyptian market has huge assortments of 18 and 21 caliber products for different factories, which are currently being placed in exhibitions, and are superior in shape and quality to imported production, whether from Italy, Turkey or any other country.

He pointed out that the demand for gold is currently clearly declining with the period of entering the study and the preoccupation of Egyptian families with multiple expenses, which reduces the demand for gold, pointing out that the market is witnessing the launch of new models at prices commensurate with the current stage.

 
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