Gold Companies Raise Manufacturing by Nearly EGP 10 Per Gram

Most of the gold and jewelry companies raised the values of their manufacturing by about EGP 5-10 per gram, as a result of the rise in gold prices during the last period.

Michael Nassif, the CEO of Glow Gold Company for shaping gold and jewelry, said that the percentage of lost gold during the shaping process ranges between 8 and 10 grams per kilo, and therefore all variables are added to the gram manufacturing fee.

Nassif added that the handicrafts shaping are different from their mechanically produced counterparts or what is known as “casting” production lines, as a result of the different production volume and quantities offered annually.

Manual production takes more time and effort, in addition to the high percentage of losses during manufacturing, and thus its manufacturers rise compared to those produced by gold smelting methods.

He noted that manual manufacturing is characterized by high quality, attractive designs, and craftsmanship, in contrast to automated manufacturing.

Nassif highlighted that the handmade products are characterized by their high weight, but the companies tended to reduce the weights offered in the market, so that the weight of the crafts ranged between 2 and 10 grams, to overcome the stagnation, and to suit the purchasing capabilities of consumers.

Contributed by Israa Farhan