What is broken gold in the goldsmiths market and its prices?

Books – Islam Saeed

Thursday, 04 May 2023 02:00 AM

with high aThe price of gold In the markets recently, there has been an increase in talk about broken gold, which is bought under the current circumstances from a significant increase in the price of crafts, and in the context of the following lines, we shed light on broken gold.

gold fraction It is used gold that is bought and sold between gold stores as well as consumers, but it is a means of preserving the value of money and when the consumer buys it he does not wear it because it has some defects and its evaluation is according to the total weight of the product, and the manufactures in it are much less than the manufactures of new gold.

Broken gold has some problems that prevent it from being used for adornment, for example, the “earring” of adornment has a break or something that prevents its use, and here it is bought as broken gold and not as a new product for use.

Broken gold in Egypt has limited workmanship, ranging from 25 to 40 pounds, depending on its condition and at the discretion of the jeweler. In earlier times, broken gold had workmanship of only 15 pounds, but with the high demand for it, its price increased.

The prices of fractional gold are the same as the prices of gold in the market at the time of purchase, and gold ore in Egypt is at one price, and the differences are in the workmanship prices, and the fractional gold is not taxed on resale.

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