Merchants: Demand for the purchase of bullion and new artifacts

12.25 dirhams, a decrease in the price of a gram of gold within 3 weeks

The demand for the purchase of ingots of small and medium sizes.

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Gold prices continued their declines for the third week in a row, recording new declines at the end of last week, whose value ranged between five and 6.5 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 markets of Dubai and Sharjah, where the total decreases in the price of Gram within three weeks to 12.25 dirhams.

Officials of the gold and jewelry trade outlets told «Emirates Today» that the continued decline in gold prices supported the demand for the purchase of gold bullion of light and medium weights, and also contributed to improving the demand for new works.

In detail, the price indicators announced in the Dubai and Sharjah markets, at the end of last week, showed that gold prices recorded decreases, ranging in value between five and 6.5 dirhams per gram of various carats.

The price of a 24-carat gram was 206 dirhams, a decrease of 6.5 dirhams, compared to its prices at the end of the previous week, while the price of a 22-carat gram was 193.5 dirhams, a decrease of 6.25 dirhams.

The price of a gram of 21 carats reached 184.5 dirhams, a decrease of six dirhams, while the price of a gram of 18 carats reached 158.25 dirhams, a decrease of five dirhams.

In addition, the director of the "Baghdad Jewel for Gold Trading" company, Intisar Ward, said that gold prices continued their declines for the third week in a row, which contributed to activating the demand of dealers to buy gold bullion for saving purposes to take advantage of low prices.

For his part, the sales manager at the “Al-Sarraf Jewelery” store, Abdullah Muhammad Ali Al-Tohamy, explained that the focus on buying bullion of small and medium sizes is due to the fact that many dealers buy these products for saving purposes, due to the ease of selling them when needed, compared to bullion. of large sizes.

In turn, the director of "Dahnak Jewelry", Rickish Dahnak, considered that gold prices have reached the lowest levels in more than six weeks, noting that the recent decline is the largest during the previous three weeks, which supported the purchase of bullion and new works.

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