Gold Prices Stabilize in Egypt Amid Concerns over Purity
Cairo - Gold prices in Egypt remain stable, with a 21-karat gold pound – weighing 8 grams – selling for 40,600 Egyptian pounds and being purchased back from consumers at 40,400 pounds, excluding taxes, stamp duties, and manufacturer costs. However, rising demand for gold as both an investment and for decorative purposes has heightened the need for consumers to reliably distinguish between authentic gold and adulterated products.
Experts outline several key indicators to help buyers verify gold purity.These include checking for an official hallmark indicating karat weight (24, 21, 18, or 14), obtaining a detailed invoice from the seller listing weight, karat, and manufacturing costs separately from the raw gold price, and performing a simple magnet test - genuine gold is non-magnetic.
additional verification methods recommended by jewelers: observing consistent color and natural shine, noting gold’s relatively high density compared to other metals, and seeking professional testing with specialized acids to confirm karat weight. These measures are crucial for consumers to avoid fraud in a market experiencing increased activity.