With the increasing demand of citizens for bullion and gold pounds, we need to bear at least six factors in mind before investing in precious metal.
These factors include the name of the producing company, the type of caliber, the official stamp, the quality of the gold ingot and pound packaging, and the cashback rates.
Fadi Kamel, executive director of the “Egypt Gold” company for gold trade said citizens should buy bullion and pounds, which are manufactured in factories and distributed through well-known companies, not workshops, because they are not approved by the stamp authority, and their caliber cannot be guaranteed.
To do this, customers need to make sure that the caliber of the ingot is clearly written on the outer packaging of the product, he added.
"They offer ingots of 9999% purity, while the popular gold pound is of 875."
In the same conviction, Kamel explained that bars are available in the local markets in different sizes and weights, starting from a quarter of a gram to a kilogram.
He also noted that the gold pound is found in different weights, such as a pound weighing 8 grams, half a pound weighing 4 grams, and a quarter of a pound weighing two grams.
He pointed out that bars and pounds are characterized by lower craftsmanship costs and a special cashback rates upon later disposition, which differs from one company to another.
Contributed by Ahmed Emam