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Gold Companies Raise Manufacturing Costs Per Gram for Second Time in 2025

Waleed Farouk Gold companies in local markets raised the manufacturing cost of jewelry and bullion this week, the second time they raised it at the beginning of the year. Saeed Imbabi, Executive Director of the iSaaga platform for gold and jewelry trading, said that the record-high rise in gold prices and the rise in fuel prices are consequently leading to higher gold manufacturing costs, whether jewelry or bullion. This is due to increased manufacturing inputs and increased manufacturing waste. Imbabi added that major gold companies have taken the step of raising manufacturing costs, followed by other factories and companies. The increases range between 15 and 25 Egyptian pounds per gram for jewelry and approximately 10 Egyptian pounds per gram for bullion. Last Friday, the Egyptian government decided to increase the prices of gasoline and petroleum products, the second increase in six months. This is part of its plan to completely lift fuel subsidies and liberalize fuel prices to international prices. This is part of the government's economic reform program, in agreement with the International Monetary Fund. Karim Soliman, Sales Manager at Gold Era Gold Trading and Investment Company, said that gold factories have recently increased their manufacturing costs due to the rising price of gold and increased operating costs. He added that the increase in prices within the markets is not uniform, varying from company to company, and varies from bullion to Egyptian pounds. He noted that raising manufacturing costs for customers exacerbates the market stagnation, especially with gold prices reaching record highs. However, companies are forced to increase their costs due to rising prices and increased operating costs, including electricity, rent, and employee salaries. Mustafa El-Senussi, head of the Luxor Gold Trade Union Committee, said that gold manufacturing prices increased starting last Monday by between 15 and 20 Egyptian pounds. El-Senussi noted that gold companies raised manufacturing prices for the second time, while they had increased manufacturing costs approximately three times over the past year. He explained that the increased cost of gold manufacturing led to the average manufacturing cost of a gram of 21-karat gold ranging between 170 and 270 Egyptian pounds, while the manufacturing cost for imported jewelry ranged between 400 and 600 Egyptian pounds. El-Senussi emphasized that the continued increase in manufacturing costs places an additional burden on consumers, calling for a balance between gold prices and manufacturing costs to ensure market stability. He also emphasized the importance of transparency in determining the final cost of gold to ensure the rights of all parties, both traders and consumers. Abdel Aal Saleema, Vice President of the Gold Division at the Kafr El-Sheikh Chamber of Commerce, revealed that the manufacturing cost is determined based on a variety of factors that are added to the base gram price. These factors include expenses, raw gold loss, losses during the manufacturing process, production costs, and the shop's profit margin, with a clear impact on the volume of production, manufacturing, and sales. Saleema added that the production process bears the cost of raw gold loss collected from the market, as a portion of it is lost during operation. Approximately 8 Egyptian pounds is added per gram of 21-karat raw gold, with 1 to 2.5 grams lost per kilogram during this process. He pointed out that there is additional gold loss during manufacturing, with 3 to 4 grams lost per kilogram, which is added to the manufacturing cost, in addition to the manufacturing and labor costs, all the way up to the shop's profit margin. Saleema emphasized that manufacturing costs rise with declining demand for gold, as low sales incur expenses for factories and shops. Conversely, manufacturing costs decline with increasing demand and market activity, as costs are distributed across a larger number of pieces. He also explained that types that require less manufacturing require higher manufacturing costs compared to those produced in large quantities. Salma noted that the manufacturing costs for 18-karat gold are often higher than for 21-karat gold, given that 18-karat gold is available in more diverse and high-quality models due to its hardness, which increases its manufacturing costs. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. 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