The price of a gram fell 6.5 dirhams in a week

Declines in gold prices stimulate demand for artifacts

The price of a gram of 24 carat gold was 219 dirhams.

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At the end of last week, gold prices recorded declines ranging between 4.75 and 6.5 dirhams per gram of various karat, 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 outlets told Emirates Today that the price declines recently recorded by the yellow metal, which are the lowest in more than six weeks, have contributed to activating the indicators of demand for artifacts, with most sales concentrated in jewelry of 18 and 21 carats. .

In detail, the dealer, George Samir, said that "the significant decline in gold prices encouraged him to buy gifts from artifacts."

The dealer, Fouad Bashir, added, "He preferred to buy an 18-carat handcraft gift, because it is the most diverse in modern models."

The trader, Mohamed Noureddine, indicated that he "bought a piece of jewelry, after noticing the significant declines that gold had recently registered."

For his part, the director of "Baghdad Jewel of Gold and Jewelery Trading Company", Intisar Ward, said that "the significant declines in gold prices, finally, were positively reflected in the stimulation of demand for artifacts at rates higher than the previous weeks."

It is expected that the markets will witness further improvement if new declines are recorded or stability at current rates are the same, which will stimulate dealers in the bullion and currency sector to buy as well. ”

In turn, the director of the "Dahkan Jewelery" company, Jay Dahkan, said that "the declines recently recorded by the yellow metal, which are significant and reached gold prices to the lowest levels in more than six weeks, contributed to stimulating the demand for artifacts."

The manager of the "Dahak Jewelry" store, Ashok Poit, said that "the decline in the price of gold has moved the sales of the artifacts, but most stores are counting on recording greater activity rates during the coming period, with the expectation of the turnout of dealers in the bullion and currency sector, to take advantage of the price declines, as dealers are still In that area, they are awaiting prices, in anticipation of further declines. ”

gold prices

The price of a gram of 24 carat gold was 219 dirhams, a decrease of 6.5 dirhams, compared to its prices at the end of the previous week.

While the price of the 22-carat gram recorded 205 dirhams, down 6.25 dirhams.

The price of the 21-carat gram reached 196.25 dirhams, a decrease of 5.5 dirhams.

The price of a gram of 18 carats reached 168.25 dirhams, down from 4.75 dirhams.

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