Officials of Manafeth for the trade in crafts and jewelry, that the gold markets recently recorded limited improvement rates in their indicators, with tourists and visitors buying gifts during the current period.
They pointed out to «Emirates Today» that the record of gold prices for high rates recently has limited the growth of demand for artifacts in the markets in greater proportions, and it is expected that sales of artifacts during the coming period will increase additional increases with the holiday season and New Year's celebrations.
In detail, the director of the "Roots for Jewelry" shop, Moussa Saad, said that "sales recently recorded an improvement in the demand for new gold items, with a number of tourists and visitors heading to buy gifts of crafts," noting that "it is expected that the indicators of demand for artifacts will increase by proportions." Greater during the next week, with a large number of customers prefering to buy gifts before and during the New Year's celebrations.
For his part, the manager of the "Dahkan Jewelery" store, Ashok Poet, considered that "although there was an improvement in sales of new artifacts compared to the previous week, the registration of gold prices for significant increases recently limited the increase in sales by greater proportions, with the postponement of some dealers, especially residents of The state, to buy in anticipation of the return of gold prices to record appropriate declines motivate them to buy gifts ».
He added that «the current period usually witnesses high rates of demand for purchasing gifts of handicrafts and jewelry, whether from residents who buy gifts and travel for the New Year’s holiday in their countries or residents who celebrate that occasion in the country, in addition to the tourist groups who buy souvenirs from the state’s markets During that period".
The manager of the "Rikesh Jewelery" store, Rikesh Dhanak, pointed out that "the price increases that gold recently recorded limited the increase in the demand for dealers to buy gifts of golden crafts of various kinds, which made the improvement in sales during the current period limited", pointing out that "the markets witnessed some Operations to buy gifts of gold coins and alloys with small weights, which some Asian nationalities prefer to purchase during New Year celebrations instead of handicrafts ».
He explained that «a large number of merchants are counting on next week to record a greater increase in sales of handicrafts and jewelry, with the support of entering the period of New Year celebrations and the presence of an official holiday in the country, in addition to the failure of a large number of employees to celebrate that occasion, whether inside the country or through travel to their countries ».
Price indicators
Gold prices achieved gains, ranging between 2.75 and 3.5 dirhams per gram, of various calibles, yesterday. The price of a gram of 24-carat gold was 182 dirhams, an increase of 3.5 dirhams, compared to its price indicators in the previous week, while the price of a gram of 22-carat gold was 171 dirhams, an increase of 3.5 dirhams, and the price of a 21-carat gram reached 163 Dirhams, an increase of three dirhams, while the price of a gram of 18 carat gold was 139.75 dirhams, an increase of 2.75 dirhams.