Ministry of Supply: Noticeable Increase in Gold Jewelry Submitted for Hallmarking

Marsad Al Dahab has learned that Egypt's Ministry of Supply and Internal Trade confirmed a noticeable increase in the volume of gold jewelry being submitted to the Assay and Weights Authority for hallmarking during the current period, in line with the growing activity in the domestic gold market. The ministry also indicated that it is continuously reviewing its operating procedures and examining various organizational and administrative proposals aimed at improving service efficiency and increasing operational capacity.

Marsad Al Dahab obtained an official clarification from the Ministry of Supply and Internal Trade as part of its ongoing coverage of Egypt's gold market, following complaints from several manufacturers and traders who said that waiting times for hallmarking gold jewelry and bullion can, in some cases, extend to nearly two weeks. They noted that these delays affect production cycles and delivery schedules, particularly amid the recent surge in market activity driven by the return of Egyptians working abroad during the summer season.

The inquiry submitted to the ministry also addressed the possibility of developing the hallmarking system, including a proposal to separate the hallmarking process for bullion from jewelry products in order to improve operational flexibility, accelerate processing times, and maintain all technical and regulatory standards governing hallmarking procedures.

Dr. Hamdy El-Khamahmy, Head of the Egyptian Assay and Weights Authority, stated in the official clarification issued by the Ministry of Supply and Internal Trade:

"The Egyptian Assay and Weights Authority is currently witnessing a noticeable increase in the volume of gold jewelry submitted for hallmarking, in parallel with the growing activity in the gold market, which has been reflected in the Authority's workload.

The Authority continues to perform its duties according to established intake priorities and approved technical procedures, while maintaining the highest standards of accuracy, quality, and integrity in hallmarking operations to ensure timely completion without compromising regulatory controls.

In this context, the Authority continues to review its operating system and workflow mechanisms on an ongoing basis to improve performance and keep pace with market developments and requirements. It is also evaluating various organizational and procedural proposals that could enhance service quality and facilitate procedures for market participants, without compromising the technical or regulatory standards governing hallmarking operations.

The Authority further confirms that all proposals aimed at improving workflow efficiency, increasing operational capacity, and facilitating procedures for market participants are continuously reviewed and evaluated. Appropriate decisions are made in accordance with technical and organizational considerations, while safeguarding the public interest and maintaining the quality of services provided."

Marsad Al Dahab noted that the ministry's official clarification reflects its awareness of the current increase in workload at the Assay and Weights Authority and confirms that it is continuously reviewing operational mechanisms and evaluating proposals designed to improve service efficiency in line with market needs while maintaining all technical and regulatory standards governing hallmarking operations.

Marsad Al Dahab also welcomed any measures aimed at enhancing the hallmarking system, improving operational efficiency, supporting manufacturers and traders, reducing waiting times, and keeping pace with the continued growth of Egypt's gold sector while preserving regulatory oversight and ensuring the quality of gold products circulating in the market.

The ministry's official clarification comes at a time when Egypt's domestic gold market is witnessing strong demand for gold jewelry, making the development and efficiency of hallmarking services an important factor in supporting the industry's continued growth.