The markets witnessed remarkable activity from residents and tourists

New Year's Eve celebrations boost gold sales by 25%

21 karat and 18 karat accounted for a large percentage of sales.

From the source

Officials of outlets for the gold and jewelry trade confirmed to "Emirates Today" that the New Year's celebrations supported sales of gold and jewelry at rates exceeding 25%.

The director of the "Mashoom" jewelry store, Raj Bahi, said that these celebrations stimulated the demand for gold gifts in the Dubai and Sharjah markets, which supported sales growth by more than 25% compared to previous regular periods.

He pointed out that the gold markets witnessed a remarkable activity by residents and tourists, to buy gifts of goldsmiths, jewelry and small gold coins.

The director of "Rikesh Jewelery Company", Rickish Dahnak, agreed that the length of the New Year's holiday period contributed to the increase in the demand for gifts from the gold markets, pointing out that gold works of 21 and 18 carats captured a large percentage of them, followed by jewelry that recorded turnout rates. divergent.

Dahn estimated sales growth rates on the occasion of the New Year between 15 and 25% compared to the periods preceding that occasion.

He added that some dealers preferred to buy gifts before the holiday, but the largest percentage of sales were concentrated during the holiday period, especially with the improved weather and the length of the holiday period.

In the same context, "Director of Famas Jewelery", Taghi Hedayat, confirmed that the New Year's celebrations have positive effects on the sales of gold and jewelry markets, at remarkable rates during the recent period, especially in light of the popularity of tourist groups, especially in Dubai.

He added that the high turnout of tourists to buy gifts on the occasion of the New Year was one of the factors supporting the growth of sales at varying rates, pointing to sales that included gold and jewelry.

Follow our latest local and sports news and the latest political and economic developments via Google news