Dealers: Sales are concentrated in 18 and 21 carats

The “Eid Season” improves the demand for gifts of goldsmiths

Gold prices rose at the end of last week between 1.5 and 1.75 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, while these price increases came for the second week in a row, with a total of six dirhams increases within two weeks.

Officials of outlets for gold and jewelry trade indicated to «Emirates Today» that the markets have recently begun to witness rates of turnout for a number of dealers to buy handicraft gifts on the occasion of the Eid al-Adha season, noting that sales of new gold works have improved despite the recent rises in gold prices. .

For their part, dealers reported that they preferred to buy Eid al-Adha gifts early for fear of the yellow metal's prices shifting further, adding that most purchases were concentrated in 18 and 21 carats.

In detail, the dealer, Mr. Abdulaziz, said that he bought a gift of 21-carat gold for his family on the occasion of Eid al-Adha, pointing out that "despite the high gold prices, they are still at appropriate limits for purchase."

The dealer, Moaz Radwan, indicated that he used to buy a gift of gold jewelry for his family during the Eid al-Adha season, and that he preferred to buy early before the days of Eid, with the expectation that gold prices would rise significantly during the coming period.

The dealer, Salman Taha, added that he preferred to buy two pieces of 18-carat jewelry, before Eid al-Adha, in order to avoid periods of crowding during Eid days in the markets, and for fear of an increase in gold prices by large percentages, according to the expectations of some reports.

demand improved تحسن

In turn, the manager of the "Al-Ayyam Jewelry" store, Galish Saqr, said that "the approach of Eid al-Adha was positively reflected in the improvement in demand for the purchase of gifts of new goldsmiths, despite the continued increase in prices for the second week in a row," noting that "the largest shares Of the handicraft sales, it was concentrated in 18 and 21 carats, and the Arab nationalities, followed by the Asian, acquired the largest proportions of dealers.

gradual improvement

For his part, the director of sales at the “Regi Jewelery” store, Mangesh Balikra, said that “despite the start of the gradual improvement in sales of new gold works, most sales were concentrated in gifts of small sizes, due to the recent rises in gold prices,” considering that “the season of Eid al-Adha is what stimulated dealers to buy and revived the markets, after the calm and slow state of the previous days.”

And the director of “Rikesh Jewelery” company, Rickish Dahnak, considered that “despite the signs of improvement in the markets for the purchase of handicraft gifts from Eid al-Adha, they are still in their early stages, and that the turnout is expected to increase at greater rates in the coming days, whether before or During the days of Eid,” he pointed out, “It is natural that most sales are concentrated in pieces of small weights, in light of the recent rises in gold prices.”

gold prices

The price of a gram of 24-carat gold amounted to 221 dirhams, an increase of 1.75 dirhams, compared to its prices at the end of the previous week, while the price of a 22-carat gram was 207.5 dirhams, an increase of 1.75 dirhams.

The price of a gram of 21 carats amounted to 198 dirhams, an increase of 1.5 dirhams.

The price of an 18-carat gram reached 169.75 dirhams, an increase of 1.5 dirhams.

• Dealers preferred to buy Eid gifts early for fear of the continued rise in prices.

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