11.25 dirhams price increases per gram within two weeks

Gold continues to rise..and slow demand for crafts

At the end of the week, gold prices recorded increases of between six and 7.5 dirhams per gram of various carats, compared to their prices at the end of the previous week, according to the price indicators announced in the Dubai and Sharjah markets, so that the yellow metal continued its rise for the second week in a row, recording increases Its total amounted to 11.25 dirhams per gram, which contributes to the slow demand for gold works, coins and gold bars.

gold prices

The price of a gram of 24-carat gold reached 215.25 dirhams, an increase of 3.75 dirhams, while the price of a gram of 22-carat gold was 202.25 dirhams, an increase of seven dirhams.

In turn, the price of a gram of 21 carats reached 193 dirhams, an increase of 6.75 dirhams, and the price of a gram of 18 carats reached 165.5 dirhams, an increase of six dirhams.

slow demand

The director of the "Hayat Jewelery" store, Dilip Dehkan, said that the continued rise in gold prices in large proportions compared to the previous four weeks, contributed to the slow demand for gold works, coins and gold bullion.

He added that the markets have recently witnessed a limited demand for buying gifts for small goldsmiths, with most dealers anticipating the return of recording new price drops during the coming period.

lack of stimuli

For his part, the director of the "Baghdad Jewel" company for gold and jewelry trading, Victory Ward, attributed the slow demand in the gold markets recently, to several factors, most notably the high price limits for gold, and most dealers went to buy in times of significant price declines during the previous weeks.

He stressed that the absence of stimulating occasions to buy at the present time was one of the factors that had an impact on the activity of demand in the markets recently.

In the same context, Abdul Aziz Al-Khatib, director of sales at the “Anan Jewelery” store, said that the successive rises in the prices of the yellow metal prompted a number of dealers to postpone purchase decisions for new gold jewelry, in anticipation of recording any decreases during the coming period.

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