Gold prices recorded, at the end of last week, new increases, whose value ranged between 2.5 and four dirhams per gram of different titers, compared to their prices at the end of the previous week, according to the prices announced in the Dubai and Sharjah markets.
The new prices stimulated dealers to sell their used gold jewelry, in addition to a limited demand from them to sell bullion and gold coins, in anticipation of new increases, at a time when outlets expect a gradual improvement in the sales movement, with the expected return of tourists to the markets next month.
Selling the user
The manager of "Al Ayyam Jewelry" store, Jalish Saqr, said that the return of gold to record price increases reinforced the slow demand for new gold jewelry in the markets, but it motivated dealers to sell their used gold artifacts, to take advantage of the high price limits, as well as limited turnout Among the dealers to sell bullion and gold coins, although they prefer to keep an eye on more price hikes, during the coming period.
Financial liquidity
For his part, the director of the «Baghdad jewel company for gold and jewelry trade», agreed that there was a demand from dealers to sell used gold jewelry to the stores, with the support of the new increases achieved by gold, and to take advantage of the current prices to obtain financial liquidity.
He pointed out that the recent price increases for gold reflected negatively on the sale of new artifacts,
Especially in the absence of seasons and occasions, which stimulate the purchase of new gold items.
He stressed that the movement of selling bullion and currencies by dealers has become limited, with an expectation to record greater price increases, during the coming period.
Positive outlook
In the same context, the director of the «Dahkan Jewelery Company», Jay Dahkan, said that the new increases in gold prices have made the opposite trend in the markets, in terms of the high number of dealers selling gold used jewelry, pointing out that the sales outlets expect an improvement in the sale of artifacts The new gold gradually, if tourists return to the markets next month.
gold prices
The price of a gram of 24 carat gold reached 210 dirhams, an increase of four dirhams, compared to its prices at the end of the previous week, while the gram of 22 carat gold recorded 197.25 dirhams, an increase of 3.25 dirhams.
The price of a 21-carat gram reached 188.25 dirhams, an increase of three dirhams, and a gram of 18-carat gold reached 161.25 dirhams, an increase of 2.5 dirhams.
4
Dirhams, an increase in the price of a 24-carat gold gram.