Supply Ministry Seizes 2 kg of Counterfeit Gold, 4 Tons of Silver, and 6 Tools Used to Forge Hallmark Stamps

In line with the directives of Dr. Sherif Farouk, Minister of Supply and Internal Trade, to intensify oversight of the precious metals and gemstones market and tighten measures against fraud and manipulation, the Assay and Weights Authority has continued its intensive inspection efforts under the supervision of Dr. Hamdy El-Hamahmy, Head of the Authority.

Within this framework, the Authority’s Technical Inspection Department, headed by Brigadier Tamer El-Hennawy, in coordination with the Supply Investigations Department of the Ministry of Supply and Internal Trade, carried out a large-scale inspection campaign targeting a number of locations involved in the trading and manufacturing of jewelry.

The campaign resulted in the seizure of approximately 2 kilograms of counterfeit gold jewelry, around 4 tons of silver bars and silver jewelry that do not meet approved specifications, in addition to six tools used to forge and imitate the official hallmark stamps of the Assay and Weights Authority.

Dr. Hamdy El-Hamahmy affirmed that the seized items constitute a serious violation of the laws regulating the trade of precious metals, foremost among them Law No. 68 of 1976 on the Control of Precious Metals and Gemstones and its amendments, as well as Law No. 48 of 1941 on the Suppression of Fraud and Deception and its amendments. He stressed that such violations represent a direct infringement on consumer rights and cause significant harm to the national economy.

He added that some of the seized items were being offered in the market as imported or foreign-made products, in violation of the law and without payment of the legally due fees to the state.

The Ministry of Supply and Internal Trade emphasized that surprise inspection campaigns will continue across all governorates, with zero tolerance for any attempts at fraud or manipulation in the precious metals market, and that strict legal measures will be taken against violators to protect citizens’ rights and ensure the integrity and stability of the market.