It appears that the volume of demand for gold in Egypt is still in a major crisis, as the purchase has declined significantly in Egypt’s goldsmithing markets, after the price crossed the barrier of 800 pounds per gram, a historical level recorded by the precious metal for the first time.
Here, some people ask questions about the possibility that gold traders reduce their profit margins to move sales, and can the workmanship of the precious metal be reduced in order to increase sales in the coming period and increase and stimulate trading activity?.
During a new episode of the “Markets” program presented by Islam Saeed on the platforms of the seventh day, the program discussed the issue of gold workmanship as well as its reduction to save the market, as well as the high workmanship contribution to reducing sales.
Nagy Farag, Advisor to the Minister of Supply for the Gold Industry, and a member of the Board of Directors of the Precious Metals Division of the Chamber of Commerce, said that there are factories ranging from 20 to 40 pounds for the fewer works in terms of work in them, but there are high manufactures for large companies, so the consumer is always looking for workmanship the least.
He added in the “Markets” program, that traders can not reduce the manufactures because it is already looking at the best ways to move the market, but the significant increases in costs do not encourage the reduction of manufactures..
Naji Faraj, adviser to the Minister of Supply for the gold industry, and a member of the Chamber of Precious Metals Chamber of the Chamber of Commerce, explained the mechanisms for calculating gold workmanship, in addition to the offers that merchants can make to move sales in the goldsmiths market.