Chinese 'gold' brings Egyptians a taste of little luxury

In Egypt, Chinese gold-- an affordable imitation of the precious metal-- has swamped the jewellery market, granting the poor a little taste of luxury. As in many other countries, the Egyptian market has been flooded with Chinese goods -- everything from electronics to plastic cigarette lighters have been shouldering locally made goods out of the way. And in a country where 40 percent of the 80 million population lives on less than two dollars a day, the so-called Chinese gold has been widely welcomed, particularly by young couples who struggle to afford the traditional marriage dowry. The current price of one gram of 24 carat gold in Egypt stands at 218 Egyptian pounds (38 dollars), while the Chinese version -- a mixture of aluminium, iron and other metals -- only costs around 20 to 30 Egyptian pounds (four to five dollars) per gram. Just a short walk from the Khan al-Khalili tourist bazaar is Haret al-Yahud, the old Jewish quarter where gold workshops churned out designs from simple wedding bands to elaborate necklaces. But many of the jewellers there have switched to selling Chinese gold to improve business. For young couples struggling to start a new life together, the arrival of Chinese gold has removed at least one obstacle to the costly traditions that surround marriage, including the dowry or shabka.