Limited rise in gram within a week

Merchants: «Incentive purchase prices» support the demand for gold artifacts

The price of a gram of 24 carat gold was 210.75 dirhams.

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Gold prices rose, by the end of last week, to a limited extent, between 75 fils and two 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 trade outlets told "Emirates Today" that the markets witnessed a demand for gold jewelry to support the continuation of prices at incentive limits for purchase, pointing out that dealers are accepting to buy for fear of price movement to rise at greater rates during the coming period.

In turn, dealers reported that they bought gold jewelry and small and medium pieces, to benefit from the continuation of gold at low price limits, compared to last month's prices.

Gold crafts

In detail, the trader, Muhammad Badr, said that he “preferred to buy pieces of gold jewelry on the occasion of his readiness to marry during the coming period, and the fear of high gold prices during the coming period, in accordance with the expectations that are circulating in the markets.”

The dealer, Bashir Al-Abbas, added that he "bought pieces of jewelry, which were concentrated in small sizes as gifts for his family, to benefit from the continuation of prices at current low levels."

The client, Sama Khaled, explained that "the current prices are a stimulus to purchase, which made her buy two pieces of handicraft", pointing out that she "decided to buy, fearing that the prices would rise at greater rates during the coming period."

Low limits

For his part, Director of "Dahkan Jewelery", Ashok Poit, affirmed that "gold prices will continue to be at incentive limits for purchase, despite the recent limited hikes, but they do not affect the demand for purchase, which contributed to the increasing demand for buying gold jewelry, especially from Karat 21 karat », pointing out that the occasion of« Mother's Day »reflected positively on the buying movement before and during the event, or through the continuation of demand in the days following it.

Recent highs

In turn, Ashwin Shouni, a sales official at the Imperial Jewelry store, said, “The recent increases in gold, in limited proportions, had no clear effects on the markets, because prices are still at low limits compared to their rates last month, which in turn contributed to the increase in demand. By dealers to buy craft gifts, between small or medium weights.

For his part, Manjish Balikra, a sales official at Regie's jewelry store, said that “a large number of dealers are anticipating further price declines in gold, but with the continued relative stability of prices, and the beginning of the limited movement towards the rise, dealers have directed to buy their supplies of gold jewelry, For fear of increasing prices at greater rates during the coming period. ”

gold prices

The price of a gram of 24-carat gold reached 210.75 dirhams, an increase of two dirhams, compared to the end of the previous week, while the price of a 22-karat gold gram recorded 198 dirhams, an increase of two dirhams, and the price of a 21-carat gram reached 188 dirhams, an increase of one dirham. The price of a gram of gold from 18 carat to 161 dirhams, an increase of 75 fils.

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Dealers buying, fearing that prices will rise at greater rates during the coming period.

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