Outlets expects sales to continue to grow in the coming period

A gram of gold drops 15.75 dirhams in 3 weeks

The price of a gram of 24 karat gold amounted to 207.75 dirhams.

Cinematography: Mostafa Qassemi

Gold prices continued their declines for the third week in a row, recording yesterday a decrease of their value between three and 3.75 dirhams per gram of various carats, compared to their prices at the end of the previous week, according to the price indicators announced in Dubai and Sharjah, while the total decline in the price of a gram of gold reached Within three weeks to 15.75 dirhams.

Gold traders expected that the markets would continue to achieve signs of recovery in sales in greater proportions during the coming days, pointing out that a large number of dealers benefited from these price drops, by purchasing gold items for occasions such as weddings, or replacing old items with modern designs.

gold prices

The price of a gram of 24-carat gold reached 207.75 dirhams, a decrease of 3.75 dirhams, while the price of a gram of 22-carat gold was 195.25 dirhams, a decrease of 3.25 dirhams.

In turn, the price of a gram of 21 carats reached 186.25 dirhams, a decrease of 3.25 dirhams, and the price of a gram of 18 carats reached 159.5 dirhams, a decrease of three dirhams.

turnout improved

The director of sales at the “Regi Jewelery” store, Mangesh Balikra, said that the continued decline in gold prices and their arrival at rates that are the lowest in more than seven months, was positively reflected in activating the demand for new gold works, in addition to an improvement in varying rates in the demand for gold coins in various their sizes.

He pointed out that a large number of dealers sought to take advantage of these price drops, by buying gold jewelry for occasions such as weddings, or replacing old jewelry with modern designs.

sales motivation

For his part, the director of the "Baghdad Jewel for Gold Trading" company, Intisar Ward, said that the markets are witnessing a state of activity and improvement in sales currently, despite the end of the Eid al-Adha holiday.

He added, "It was expected that the markets would move towards a state of slowness, according to the usual market indicators that follow every long holiday related to an occasion such as holidays, but the arrival of gold prices to new low rates during the past days, stimulated markets and sales."

He stressed that keeping pace with the gold declines, as a large number of dealers prepared for the season of travel and summer holidays, reflected positively on sales, expecting that the markets would continue to achieve signs of recovery in sales in greater proportions in the coming days, with prices reaching rates that are the lowest, since the last quarter of 2021.

growth forecast

In the same context, Jay Dehkan, director of the Dehkan Jewelery Company, considered that the current price limits for gold are among the driving factors of the remarkable demand in the markets, with a large number of dealers considering that these prices are incentives to buy, or to replace works, at a time when it is expected The sales growth will continue in the coming period.

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