“Mother’s Day” stimulates the demand for gold gifts

Gold and jewelry trading outlets said that the occasion of “Mother’s Day” contributed to stimulating the demand for sales of golden artifacts at different rates.

They explained to «Emirates Today» that many dealers came to buy traditional gifts for the occasion, despite the continuation of gold prices recently, noting that the major share of the request was focused on the golden artifacts of 18 and 21 carats.

And gold, at the end of last week, recorded a valuable price increases that ranged between 50 fils and 2.75 dirhams per gram of various calibers, compared to the end of the week before, according to the price indicators announced in the Dubai and Sharjah markets, bringing the total value of the price increases for the gram of gold to 19 dirhams within three weeks.

“The occasion of Mother’s Day) had remarkable positive effects in the markets during the recent period, with many dealers to buy gifts from gold jewelry.”

He stressed that the continuation of gold prices did not have significant effects in the demand of the purchase, with the exception of the increase in the demand for golden artifacts from the less weighted groups at greater rates, which is one of the natural matters in light of the growing indicators of the yellow metal prices.

For his part, Jay Dahkon, the director of the “Dahkan for Gold and Jewelery Trading”, said: “Seasons and events are like an annual (Mother’s Day) occasion, one of the stimulating factors to stimulate the demand for buying the gifts of golden artifacts, which makes their effects positive in the outlets, especially after the calm of the demand previously due to the high price of gold.”

He added, “The demand for golden artifacts from 18 and 21 carats focus, due to the diversity of the artifacts made of them, in line with the gifts and tastes of consumer.”

In the same context, the sales officer at the Daimo Jewelry Trading Place, Del Sun, considered that “the return of the demand for the gifts of golden artifacts is a positive factory in the markets during the current period, which came with the support of seasonal occasions such as Mother’s Day,” noting that many gold stores are counting on this occasion to compensate for the slow demand of previous demand.

He pointed out that the gifts of the running of 18 and 21 carats were the most sought -after by dealers during the recent period.

Gold prices

At the end of last week, the price of 24 karat gold reached 362.25 dirhams, an increase of 2.75 dirhams, compared to its price at the end of the week before, while the price of a 22 -carat gold gram recorded 335.25 dirhams, an increase of 75 fils.

In turn, the price of a 21 -carat gram reached 321.5 dirhams, with a height of 75 fils, and the price of a gram of 18 karat gold reached 275.5 dirhams, an increase of 50 fils.