Gold Division Explains Gold Manufacturing Costs Calculating Process

In a meeting with SEE News, Gold Division at the Chamber of Commerce in Cairo members explained the gold manufacturing costs calculating process.

Osama El Galla, the general secretary of the Gold Division at the Chamber of Commerce in Cairo, explained that the gold manufacturing costs mean the expanses of converting the gold into accessories, and it measured by factories and workshops. They also reflect the gains of the traders for each gram of gold.

Moreover, the more the prices of gold increased, the more the costs of manufacturing the gold increased due to measuring the prices of lost material during the stages of shaping, finishing, and polishing the products are added.

Also, it based on the location of the seller as the prices in small shops are different from the prices in the famous gold and jewelry platforms.

In the same context, Ehab Wasef, the Deputy Head of the Gold Division at the Chamber of Commerce in Cairo that the gold manufacturing costs calculating process is based on various factories such as the products’ form. In addition, the mechanism of manufacturing, the distribution, total expanses of the factories including salaries, the skills of makers, the designs, simplicity of decorations, used technologies, and shaping are counted.

Wasef asserted that the costs of manufacturing gold are not blocking the buyers to purchase any gold pieces, it is like a tax for shaping and gelding the gold, adding that the imported shapes of pieces of jewelry which are known as “Italian Gold” are more costly due to adding taxes, added-value taxes, and stamping.

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