Officials of outlets selling jewelry and goldsmiths reported that there has been a slowdown in the movement of demand for purchases in the markets during the recent period, supported by the lack of price incentives and the absence of events and seasons that attract dealers to purchase gifts during the current period.
They pointed out to «Emirates Today» that it is expected that the next two weeks will witness a gradual improvement in the demand indicators for crafts and jewelry, with the approaching New Year’s celebrations, and a number of dealers preferring to purchase gifts of crafts before that occasion for their families.
And the price of gold at the end of the week's trading recorded stability in its indices for grams of different calibers similar to the previous week, according to the prices announced in the Dubai and Sharjah markets.
In detail, the sales manager at the “Al Matroushi Jewelery” store, Diep Sony, said, “The sales of crafts recently recorded a slow turnout due to the absence of new price incentives, and the failure to record gold prices declines with their tendency to stability, in addition to the absence of occasions or seasons stimulating to buy now. ».
He added that the markets currently witnessed limited purchases by tourists, but it is expected that the outlets will witness significant improvement during the next two weeks with the approaching of the New Year's season, which witnesses festive appearances from some dealers and visitors, the most prominent of which is the purchase of gifts of crafts and jewelry. In turn, the director of the "Fine Jewelry" company, Kalvesh Kumar, pointed out that "most of the merchants felt the signs of slowdown recently in sales with comparison to the first days of this month, during which sales rebounded with the support of the length of days of the days of the martyr's day and the National Day", pointing to It is natural for the sales cycle to slow during the current period with no price incentives or occasions to attract customers to buy, in addition to this period is a transitional period before entering the season for New Year's celebrations. He explained that «the markets have also witnessed indicators that reach the stage of stagnation in relation to the demand for buying currencies and gold bars, with the preference of dealers in those products for the purposes of saving and investing, buying during times of large price drops.
For his part, the director of the "Jewelry James Jewelry" company, Navish Navila, said that "sales of handicrafts and jewelry currently on the market are limited, while most merchants rely on the New Year's celebration season, which begins its appearances during the coming period, with some dealers heading to buy gifts during An early time to travel to spend the occasion in their countries ».
gold prices
In addition, the price of gold recorded the day before yesterday, stable in its indicators similar to their indicators at the end of the previous week.
The price of a gram of 24-carat gold reached 178.5 dirhams, similar to the prices of the previous week, while the price of a gram of 22-carat gold reached 167.5 dirhams, and the price of a 21-carat gold reached 160 dirhams, as did the price of a gram of 18-karat gold To 137 dirhams.
178.5
Dirhams gram price
Gold of 24 carat
Carats.