Increases exceeding 4 dirhams at the price of a gram of gold in a week
The price of a gram of 21 karat gold reached 196.25 dirhams.
■ Photography: Ashok Verma
Gold prices recorded, at the end of last week, an increase that ranged between 3.25 and 4.25 dirhams for various carats, compared to their prices at the end of the previous week, according to the price indices announced in Dubai and Sharjah.
The price of a gram of 24-carat gold was 219 dirhams, an increase of 4.25 dirhams, while the price of a gram of 22-carat was 202.75 dirhams, an increase of 3.75 dirhams.
The price of a gram of 21 carats reached 196.25 dirhams, an increase of 3.75 dirhams, while the price of a gram of 18 carats reached 168.25 dirhams, an increase of 3.25 dirhams.
Officials of outlets for the gold and jewelry trade told Emirates Today that the markets recorded varying rates of demand, supporting the demand by dealers to buy gifts of handicrafts and jewelry on the occasion of Christmas celebrations.
The director of the "Dahkan Jewelery" company, Guy Dahkan, said that most of the purchases were made by tourists and residents of European countries, noting that the sales of artifacts were of small and medium weight categories.
Dehkan expected demand to increase in the coming days at a greater pace.
For his part, the sales manager at the "Diamond Jewellery" store, Dilip Soni, said that Christmas is one of the occasions that stimulate sales in the gold market, but some dealers before or during the celebration period postpone the purchase in anticipation of a drop in prices.
He added that the popularity of tourism activity in the country during the current period is one of the factors that support sales, regardless of price indicators.
In turn, the director of the "Ayyam Jewelry" store, Jalish Saqr, agreed that the impact of the recent price hikes recorded by gold was limited to the sales of new artifacts in the markets, with the presence of stimulating occasions such as "Christmas" and the winter holiday season, and the boom in tourism activity in the country's markets.
• Dealers are buying gold jewelry gifts on the occasion of "Christmas".
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