Tuesday 14 December 2021
I wrote – Sherine Salah:
With the approach of Christmas, goldsmiths shops tend to manufacture light-weight crafts that are suitable as gifts for Christmas, with a value that may reach a thousand pounds, as an average gift price, according to gold dealers who spoke to Masrawy.
Dr. Naji Farag, head of the Economic Committee in the Gold Division of the Cairo Chamber of Commerce, told Masrawy that gold shops tend to manufacture gold crafts of light weights, with the approach of occasions such as Christmas and holidays.
The weight of these artifacts ranges between half a gram and a gram and a half, reaching a value of one thousand pounds, for example, and is suitable as a gift on the occasion of the holidays, according to Faraj.
Nadi Naguib, former Secretary General of the Gold Division at the Cairo Chamber of Commerce, agreed with him, saying that the artefacts that are manufactured specifically for the holidays are represented in rings, bracelets and pendants for chains with lighter weights than the weights of other gold artifacts displayed in shops in normal times.
Regarding market sales now, traders said that the market is witnessing a calm in the buying and selling movements, especially in light of the price fluctuations since the beginning of this month on global stock exchanges.
Najib stated that the price of a gram is now suitable for buying Christmas gifts, noting that the gram is almost stable in the local markets.
According to Naguib, the price of a gram of 21 caliber recorded today, Tuesday, 784 pounds, and the price of a gram of 18 caliber recorded 672 pounds, and the price of a gram of 24 caliber recorded 896 pounds, and the price of a gram of 14 caliber recorded 522 pounds.
Merchants are pinning their hopes on the Christmas season to stimulate store sales, and to attract customers by manufacturing light weight crafts.
According to Naji Farag, the sales of the stores were good during the Christmas season last year compared to the previous year, expressing the hope that sales will be good this year as well.
Ihab Wassef, Vice President of the Gold Division at the Cairo Chamber of Commerce, told Masrawy earlier that gold sales in the local market began to decline during the last quarter of this year, especially with the beginning of the academic year after witnessing a boom in the first 9 months of the year.