After the grams of gold recorded increases, reaching 17 dirhams within 3 weeks
Dealers accepting to sell gold bars and coins
Goldsmiths are currently experiencing limited demand.
Yesterday, gold prices continued their rises for the third week in a row, recording increases of between five and six dirhams per gram, compared to their prices at the end of the previous week, according to the price indicators announced in the Dubai and Sharjah markets, bringing the total increases of gold gram during the past three weeks to 17 dirhams.
Officials of outlets for the gold and jewelry trade told «Emirates Today», that the markets witnessed a demand from dealers to sell bullion and gold coins, to take advantage of the continuation of gold prices at high rates, pointing out that the turnout focused on small and medium weights.
The price of a gram of 24-carat gold amounted to 235.75 dirhams, with an increase of six dirhams, while the price of a gram of 22-carat gold recorded 221.5 dirhams, an increase of six dirhams.
In turn, the price of a gram of 21-carat reached 211.5 dirhams, an increase of 5.5 dirhams, and the price of a gram of 18-carat gold reached 181.25 dirhams, an increase of five dirhams.
Bullion and coins
Bullion and coins
The director of "Rikesh Jewelery Company", Rickish Dahnak, said that the continuation of gold prices at high limits, despite the price fluctuations that took place within close limits, contributed to a remarkable demand by dealers to sell what they had of bars and gold coins to stores, to take advantage of the differences High prices recently.
He added that most of the selling was concentrated in the pieces with small and medium weights, with dealers keeping the pieces with large weights, in light of expectations that prices will return to rise at new rates, under pressure from global political events, which in turn raise the demand for the yellow metal as a safe haven.
For his part, the director of "Basalt Jewelery Store", Ali Al-Yafei, said that the prevailing activity in most outlets selling handicrafts and gold is focused in the recent period on buying bullion and gold coins, which some dealers accept to sell.
He added, "It is expected that the demand for bullion to be sold to stores will increase during the coming period, in light of the expectations of international reports that gold prices will continue at high rates, with the increase in global demand for it as a safe haven in light of the recent political tensions."
As for the manager of "Machoom Jewelery Store", Raj Bahi, he believed that the markets could turn more to the activity of dealers selling bullion and currencies in the coming days, supported by strong expectations that prices will continue at high rates.
He pointed out that goldsmiths are currently witnessing a limited demand, while dealers are currently selling bullion from small and medium pieces.
Most of the sales are focused on small and medium weight parts.
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