Repeated jumps in gold prices in Egypt since March 2022, to record the yellow metal unprecedented levels at 1115 pounds per gram of 21 carat, which is the caliber required by the Egyptian family, which prompted some couples to marry to search for buying a network of diamond And not gold, especially with the approach of prices between the two metals. 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 that there is an increase in demand for diamond The current period is with a partial change in the culture of consumers, pointing out that diamonds are valued in dollars, but they do not change continuously, like gold, and you may find changes in a period ranging from 20 to 40 days.
He added, in exclusive statements, that the significant rise in gold in 2022 was offset by a movement in the price of diamonds, pointing out that there are certain societal segments that focus on buying diamonds, and there are some new groups of young people who prefer to buy diamonds.
“Wasef” revealed that it can buy Diamond ring Weighing a quarter carat at a price of 6500 pounds, explaining that gold is more active in terms of selling in Egypt and that over time the demand for diamonds increases, and when diamonds are resold, they lose 10 to 20%.