Expect to increase it in greater proportions during the coming period

Merchants: "New Year's Day" gifts and declining prices stimulate handicraft sales

A 24-karat gold gram was 226.75 dirhams.

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At the end of last week, gold prices recorded declines ranging between 1.75 and 2.25 dirhams per gram of various calibers, compared to their prices at the end of the previous week, according to price indicators announced in Dubai and Sharjah.

Officials of gold and jewelry trade outlets told "Emirates Today" that the markets have witnessed, finally, rates of recovery in jewelry sales, at rates greater than in the past days, with the support of a large number of dealers, whether residents or tourists, to buy gifts for the occasion of the New Year. In addition to gold registering declining rates, it stimulated turnout, pointing out that most traders are counting on further improvement in sales, during the coming period.

In turn, dealers said that the price decline, which was recently recorded by gold prices, contributed to their making decisions to purchase craft gifts at the present time, on the occasion of the New Year.

In detail, the dealer, Ramy Samir, said that he bought two pieces of jewelry as gifts for his family, as he used to buy gifts from the artifacts on the occasion of the New Year.

The dealer, Reda Fahim, explained that "he had been planning for some time to buy a gift from the jewelry on the occasion of the New Year's Day, but the decline in prices stimulated him to buy quickly."

The client, Lucy Nabil, indicated that she "decided to buy a gift from the artifacts, now, after noticing the low gold prices and the presence of offers on workmanship."

For his part, the sales official at "Himandra Jewelery" store, Niraz Raya, said, "The sales of handcraft have boomed at last, and at greater rates compared to the previous days, with a number of dealers, whether residents or tourists, going to buy gifts from the crafts, in preparation for the New Year's Day." , Noting that «the price decline has positive repercussions in supporting the turnout».

In turn, Manjesh Balikra, a sales official at Regie's jewelry store, said that “the markets have witnessed, at last, remarkable rates of improvement in the sales of artifacts, compared to the sales rates, during the past days, with the support of a number of dealers heading to buy craft gifts, On the occasion of New Year’s Day, in addition to the price decline recorded by gold.

The director of the Baghdad Jewel of Gold and Jewelery Trading Company, Intisar Ward, said that «the decline in gold prices has finally reflected positively on sales in the markets, as it stimulated the demand of a number of dealers to buy gifts from the crafts, on the occasion of the beginning of the new year, which contributed to the improvement of sales , At rates higher than during the previous periods », it is expected that sales will continue to record improvement rates, during the coming period.

gold prices

The price of a gram of 24 carat gold was 226.75 dirhams, a decrease of 2.25 dirhams, compared to its prices at the end of the previous week.

While the price of a gram of 22 carat gold was 213 dirhams, down two dirhams.

The price of the 21-carat gram reached 203 dirhams, down 1.75 dirhams.

The price of a gram of 18 carat gold reached 174.25 dirhams, down by 1.75 dirhams.

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