Why do Egyptians prefer 21-karat over 14-karat gold when making purchases?
The gold market in Egypt is witnessing ongoing discussions regarding the various types of karats available to consumers. Despite attempts to introduce 14-karat gold to the market years ago, demand for it remains very limited compared to the traditional karats that the Egyptian citizen is accustomed to.
Experts explain that the main reason for this reluctance lies in the percentage of pure gold found in each karat. While 21-karat gold contains 87.5% pure gold and 18-karat contains 75%, this percentage drops in 14-karat to only about 58.3%.
For the Egyptian consumer, buying gold is not just for adornment; it is a means of preserving the value of money and a long-term investment. Therefore, many see the shift to 14-karat as a compromise on the quality and purity of the metal, making it an unfavorable choice when making a purchase decision.
The culture of buying gold in Egypt remains closely tied to 21-karat, which is considered the most popular and widely traded karat in jewelry shops. With continued price fluctuations, citizens prefer to stick to the karats that guarantee them higher value when reselling or exchanging in the future.