Heights ranged between 2.25 dirhams and 3.5 dirhams per gram

Merchants: “Valentine’s Day” supports the demand for gold sales

222 dirhams, the price of a gram of 24-carat gold.

Emirates today

Officials of outlets selling gold and jewelry trade confirmed that the markets have recently witnessed varying rates of buying gifts of goldsmiths, supported on the occasion of "Valentine's Day" or "Valentine's Day", which falls on February 14 of each year.

Yesterday, gold prices recorded increases, whose value ranged between 2.25 dirhams and 3.5 dirhams per gram of various calibers, compared to their prices at the end of the previous week, according to the price indicators announced in the Dubai and Sharjah markets.

The price of a gram of 24-carat gold amounted to 222 dirhams, an increase of 3.5 dirhams, while the price of a gram of 22-carat gold recorded 208.5 dirhams, an increase of three dirhams.

In turn, the price of a gram of 21-carat gold reached 199 dirhams, an increase of 2.75 dirhams, and the price of a gram of 18-carat gold reached 170.5 dirhams, an increase of 2.25 dirhams.

Sales manager at "Reggie Jewelery", Mangesh Balikra, said that the markets witnessed a demand for buying gold jewelry, as gifts, with the approach of the "Valentine's Day" or "Valentine's Day" occasion, which falls on February 14.

He added that the turnout started at varying rates in recent days, while it is expected to rise during the next three days, before or during the occasion, pointing out that the fluctuation in gold prices did not affect demand.

And the sales manager of the "Al-Sarraf Jewelery Store", Abdullah Muhammad Al-Tohamy, agreed that sales of goldsmiths witnessed varying rates of turnout, but it is expected to rise at greater rates in the coming days, stressing that "Valentine's Day" is one of the motivating occasions for sales of jewelry and gold works.

He added: "Most of the purchases for this occasion are concentrated in their own models, which stores have recently started to offer, and they include shapes of golden hearts, at a time when some of them are painted in colors, most notably (red), which is the most expressive of that occasion, and those models are concentrated in handicrafts. Manufactured from 18 karat, the most versatile and moldable.

In the same context, Abdulaziz Al-Khatib, Director of Sales at Annan Jewelery Store, said that the demand for Valentine's Day gifts was not limited to residents only, but also included visitors and tourists, expecting sales to rise in the coming days at greater rates.

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