Repeated jumps in gold prices in Egypt since March 2022, to record the yellow metal unprecedented levels at 1115 pounds per gram of 21 carats, which is the caliber demanded by the Egyptian family, which prompted some couples to marry to seek the purchase of a network of diamond And not gold, especially as the prices between the two metals approach. Through the cost of buying gold, you can buy diamonds, which are valuable and easy to buy and resell in Egypt.
Ehab Wassef, head of the Precious Metals Division at the Federation of Industries, said there is an increase in demand for diamond The current period is with a partial shift in consumer culture, emphasizing that diamonds are valued in dollars, but they don’t change continuously, like gold, and you may find changes over a period of 20 to 40 days.
He added, in exclusive statements, that the significant increase in gold in 2022 was offset by a movement in the price of diamonds, noting that there are some segments of society that focus on buying diamonds and there are some new groups of diamonds. young people who prefer to buy diamonds.
“Wasef” revealed that he can buy diamond ring Weighing in at a quarter of a carat and priced at £ 6500, it explains that gold is more active in terms of sales in Egypt and that over time the demand for diamonds increases and when diamonds are resold they lose 10 to 20%.
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