Price drops up to 6.75 dirhams per gram
“Mother’s Day” gifts and falling prices improve gold sales
Most of the stores have expanded offering products on the occasion of "Mother's Day".
Photography: Ashok Verma
Finally, the gold markets witnessed an improvement in the demand of dealers to buy gifts of goldsmiths, to celebrate the "Mother's Day", which falls on March 21.
Yesterday, gold prices recorded decreases, with values ranging between 5.25 and 6.75 dirhams per gram of various carats, compared to their prices at the end of the previous week.
mother's Day
And sales manager at Diamond Jewelery, Dilip Soni, said that some dealers have come to buy gifts of gold jewelry during the recent period, in the context of celebrating the occasion of "Mother's Day", which falls on next Monday.
He added that dealers preferred to buy early to take advantage of the relative decline in prices, while the demand for handicraft gifts is expected to continue in the coming days.
Sony explained that most of the sales were concentrated in gold jewelry of 18 and 21 carats, and the largest demand is concentrated in small and medium pieces, especially the products offered by stores for that occasion, which allows writing the name of the mother in both Arabic and English.
Prices drop
For his part, the director of "Basalt Jewelery Store", Ali Al-Yafei, said that the recent decline in gold prices was one of the factors that supported the demand for gold jewelry, with expectations from the majority of dealers that prices will record higher rates during the coming period, under pressure from the repercussions The Russian-Ukrainian crisis.
He pointed out that the celebration of "Mother's Day" was one of the factors that boosted the growth in demand for handicraft gifts, with dealers going to buy, regardless of price changes.
Compete Stores
In the same context, the director of sales at the “Al-Sarraf Jewelry Store”, Abdullah Muhammad Al-Tohamy, considered that the improvement in demand witnessed by the markets, and in varying proportions recently, came with the support of the “Mother’s Day” occasion, and the relative decline in gold prices, which motivated most dealers to buy. With expectations that prices will rise again in large proportions.
He stressed that the competition of a number of stores in offering gold crafts, especially on the occasion of "Mother's Day", and in an expanded way, was one of the factors that stimulated the demand for purchase.
gold prices
The price of a gram of 24-carat gold recorded 234.5 dirhams, a decrease of six dirhams, compared to its price at the end of the previous week, while the price of a gram of 22-carat gold recorded 220.25 dirhams, a decrease of 6.75 dirhams.
The price of a gram of 21-carat gold reached 210.25 dirhams, a decrease of 6.25 dirhams, and the price of a gram of 18-carat gold reached 180.25 dirhams, a decrease of 5.25 dirhams.
Follow our latest local and sports news and the latest political and economic developments via Google news