Gold prices recorded declines of between AED 3.25 and AED 4.25 per kilogram of various calibers over the previous week, according to prices quoted in Dubai and Sharjah markets.

"The decline in the price of gold in terms of" big "rates contributed to the return of demand for bullion and gold coins after a period of stagnation suffered by these products, pointing out that the small size bullion acquired most of the purchases , While the outlets recorded a limited improvement in the demand for the purchase of goods.

Caliber prices

Gold prices fell by between AED 3.25 and AED 4.25 per ton of different caliber during last week compared to last week's prices.

The price of 24-carat gold was 154 dirhams, down 4.25 dirhams, while the price of grams of 22 carats 144.5 dirhams, a decline of 3.75 dirhams.

The price of gram of 21 carats to 138.25 dirhams, down 3.5 dirhams, while the price of grams of gold from 18 carats to 118.5 dirhams, a decline of three dirhams.

Return activity

"In the past five days, gold markets have seen a rebound in demand for bullion and bullion, as gold prices have fallen sharply," said Rekesh Dahnak, director of Rakesh Jewelery. He said Dahnak that «the revival of demand for bullion and currency reflected positively on the outlets that have been stagnating in demand for those products for a long time».

He pointed out that «the outlets have improved the proportion of limited demand for the purchase of things», adding that «most of the purchases of alloys focused on products of small sizes and weights a few ranging between 5 and 10 grams».

Retreat

"Gold sales have improved overall over the past week, as gold prices have recorded a marked decline in the (big)," said Raju Bahi, director of Mashum Jewelery. "The demand for bullion and currencies was remarkable, He has long been in a recession. "

"Most of the bullion and bullion traders are now cautiously buying, either by buying limited amounts or focusing on short weights, while gold is looking for new price declines," Bahi said.

Positive Implications

"The recent price declines in gold have had a positive impact on the markets, and their indicators have been shown by improved demand for goods, albeit at specific rates," said Abdulaziz Al-Khatib, director of Anan Jewelery.

He added that «the purchase of bullion and currencies increased by good rates, after these products have suffered a recession during the last period in demand».

144.5

AED AED price

22-gauge gold

Carat.