03:45 PM
Sunday May 24, 2020
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I wrote – Shaima Hefzy:
Sales of goldsmiths and goldsmiths declined during the Ramadan and Eid al-Fitr seasons by about 90% compared to last year due to the breakdown in marriage parties and anti-Corona measures, according to Naguib Club, Secretary General of the Gold Division at the Cairo Chamber of Commerce for Masrawy.
Naguib said that the season of “marriage and betrothal” is the most famous season for selling gold, and the market started from 6 pm until 10 pm, but as a result of precautionary measures to confront Corona, he canceled the period of the goldsmiths’ work. Even if the stores open in the morning, customers will not come .. and there is no There is room for the day. “
He added that preventing the establishment of marriage and engagement parties, and closing the role of events and wedding halls contributed to reducing gold sales, while the rate of ordinary citizens did not increase the acquisition of gold works, due to the difficult living conditions due to the crisis.
Naguib pointed out that the high price of gold, affected by the strong rise in the price of the yellow metal after the Corona crisis, and investor concerns, also contributed to the weak turnout.
“The sales of the Eid season have declined significantly because of all these factors. We have achieved sales of only 10% compared to last year, and the rate of decline has reached 90%, and the situation is changing for the worse with the continued closure of shops.”
The increase in gold prices in Egypt coincides with its global rise to the highest level in more than 7 years, due to the repercussions of the crisis of the emergence of the emerging Corona virus, and reached a historical level and the price of 21 karat per gram recorded about 765 pounds, and the gram of 18 karat gold about 653 pounds, and 24 karat around 870.9 pounds, and the gold pound 6096 pounds.
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