China has unveiled a new metal called 'Pure Solid Gold' to bolster its status as the world's top gold producer, igniting fierce debate in global gold and jewelry markets. Claimed to have 99.9% purity and high resistance to scratching, Egyptian experts dismiss it as a fake substance unsuitable for investment. Opinions split between viewing it as genuine innovation or a marketing ploy to lower gold prices.
China announced 'Pure Solid Gold' as a step to strengthen its gold production, differing from traditional Chinese gold coated with a thin layer. It is claimed to hold a 99.9% purity certificate (24 carats) and be more resistant to scratching and deformation, making it suitable for luxurious daily-wear jewelry.
In response to the controversy, Egyptian gold jewelry expert Amir Rizk stated that this 'so-called Pure Solid Gold' is a Chinese invention mimicking real gold's appearance but not actual gold. 'This material remains durable for a period and provides a layer of solidity, but it is not gold,' Rizk clarified, adding it is 'propaganda intended to drive down the price of gold and influence the global market.' He affirmed Egypt's gold as the world's most reliable, followed by Italy's, with 100% certified purity.
Former Secretary-General of the Gold Division Nady Naguib described the substance as not pure gold but a manufactured material, similar to China's imitation diamonds. 'Gold extracted from the earth is completely different from manufactured gold, which has no intrinsic value,' he said, warning that sellers in Arab or Egyptian markets must be honest and issue invoices labeling it as imitation gold to avoid legal repercussions.
Vice Chairman of the Gold and Jewelry Division Lootfy al-Muneib emphasized that scarcity adds value to natural gold. 'It can be used as an ornament or jewelry, but it is ultimately not gold; it is gold-like,' he explained, stressing its unsuitability for savings or investment and no impact on global markets.
Chinese jewelry experts highlight advantages like maintaining luster and color, resisting corrosion. They advise looking for the 'AU999' mark, buying from reputable retailers, and avoiding resizing due to soldering difficulty.