Holiday and New Year's gifts support the demand for gold jewelry

The price of a gram of 24 karat gold was 219.75 dirhams.

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Officials of outlets for the gold and jewelry trade reported that the markets have recently witnessed varying rates of demand for buying gifts from the new gold artifacts, on the occasion of the New Year’s celebrations.

They pointed out to «Emirates Today» that, despite the continuation of gold prices at high rates, the demand of dealers to buy gifts, especially those associated with some people with the winter holiday season, and the travel of some dealers to their countries, contributed to supporting the demand for sales of handicrafts, pointing to The growth rate in sales is still limited, but it is expected to increase during the next two days.

Dilip Patni, managing director of the “Artist’s Jewelry” store, said: “Although gold prices continued to be high and in large proportions, compared to their indicators during the past week, the markets witnessed varying rates of demand from dealers to buy gifts from the new gold artifacts, on the occasion of the celebration of New Year’s Eve.” Christmas year, in addition to buying a number of dealers gifts for their families before they travel to spend the holidays in their countries ».

For his part, Ashok Puit, sales manager at the "Dahken Jewellery" store, said, "The markets have witnessed varying rates, but they are still limited in light of the presence of events such as New Year's celebrations and the winter holiday season, in addition to the tourist season, which is very popular with visitors in the country's markets." », expecting that «the pace of demand for sales will continue, but at greater rates during the coming period, especially with the fact that some dealers prefer to buy after the New Year occasion».

And the director of the “Roots Jewelry” store, Musa Saad, considered that “sales of gold jewelry are expected to increase by greater rates during the next two days, especially since some dealers are anticipating a decline in prices,” pointing out that “the current period is witnessing greater rates of demand from tourists who represent large shares of sales rates ».

In addition, gold prices rose at the end of last week between 75 fils and dirhams per gram of various carats.

The price of a 24-carat gram of gold reached 219.75 dirhams, an increase of one dirham, compared to its prices at the end of the previous week, while the price of a gram of 22 carat reached 203.75 dirhams, an increase of 75 fils, and the price of a gram of 21 carat reached 197 dirhams, an increase of 75 fils. And the price of a gram of 18 karat gold reached 169 dirhams, an increase of 75 fils.

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