Gold prices have returned to the march of its height, recorded at the end of last week, increases with values ranging between 5.75 and 7.75 dirhams of love from various calibers, compared to their prices at the end of the week before, according to the price indicators announced in Dubai and Sharjah.
Officials of sales outlets for the gold and jewelry trade told «Emirates Today» that the return of gold prices to rise, and with large values, was reflected in the activity of the markets in relation to the purchase of new golden artifacts, which witnessed varying slow rates, pointing out that the price increases were accompanied by the calm demand during the month of Ramadan, which strengthened the slow demand for purchase.
The price of a gram of 24 karat gold was 351 dirhams, an increase of 7.75 dirhams, compared to its prices at the end of the week before, while the price of a 22 -karat gram recorded 326.5 dirhams, an increase of seven dirhams.
In turn, the price of a 21 -carat gram reached 313 dirhams, a height of 6.25 dirhams, and the price of a 18 -karat gram recorded 268.25 dirhams, an increase of 5.75 dirhams.
Daily Sun Son said: “The price increases for the yellow metal are market repercussions on the new golden artifacts that are witnessing slow demand, in addition to that the markets are witnessing a relative calm during the month of Ramadan, with the absence of incentives and seasons that make consumers accept to buy now.”
He added, “On the usual, the markets are witnessing an activity in the demand for the gifts of artifacts and jewelry before the Eid Al -Fitr period, with a number of customers preferring to buy during that period.”
For his part, Raj Bahi, director of the “Machu for Gold and Jewelery Trading”, said that “the return of gold prices to rise, after its decline during the previous week, contributed to slow demand for the purchase of new golden artifacts.”
He explained that «the calm demand during the month of Ramadan supported the state of slow sales for golden artifacts, while many dealers in the alloys sector are awaiting the registration of the yellow metal for new price rises according to the expectations of global markets, so that they accept to sell their products for stores».
In the same context, the director of the “Ricky for Gold and Jewelery Trading”, Ricky Dahkin, said that “many dealers prefer to buy for the bushes during that period of the month of Ramadan, but the return of gold prices to rise at great rates, which led to the slow demand for new golden artifacts in the markets.”
He pointed out that «many merchants count on the period before the Eid Al -Fitr season to stimulate sales at good rates, especially since many residents buy gifts from the workcarfs during that period, whether before traveling to spend the holiday with their families or even for residents with their families inside the country.
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