Gold prices continued their gains for the second week in a row, recording at the end of last week an increase that ranged between 25 fils and a dirham per gram of different calibers, compared to their prices at the end of the previous week, bringing the total rises in two weeks to five dirhams.
Officials of the outlets for the sale of jewelry and gold jewelry, told «Emirates Today», that the markets witnessed, finally, the demand of dealers to sell their holdings of used gold products for the stores, supported by the continuation of gold prices at high rates, in addition to a very limited improvement in purchasing Gifts from new artifacts.
Selling «user»
The director of the «Basalt Jewelry Company» Ali Al-Yafei said that the continuation of gold at high price limits motivated a large number of dealers to sell their gold used jewelery in the stores to obtain financial liquidity before Eid Al-Fitr, in addition to selling artifacts with old designs at high prices , And see the return of prices to record significant declines, then re-purchase modern models.
Al-Yafei stressed that the markets witnessed a very limited improvement in buying new gifts of crafts before the holiday season, especially from dealers of Arab nationalities.
In turn, the director of the «Baghdad jewel company for gold trading», Intisar Ward, said that the sales outlets witnessed the offer of dealers selling their hold of used artifacts to the stores, in addition to a limited improvement in sales of gold jewelry.
High rates
In the same context, the director of the «Rikesh Jewelery Company», Rikesh Dhanak, said that most of the merchants expected large increases in sales of new artifacts before Eid Al-Fitr, but the continuation of gold prices at great high prices, motivated Asian and Arab dealers to sell their artifacts Used.
Dahnak pointed out that there is a limited demand for buying new goldsmiths as gifts, but they are still not expected. Sales are expected to witness additional rates during the Eid Al-Fitr holiday, especially if gold prices recorded declining rates at reasonable rates.
gold prices
Gold prices recorded increases, the value ranged between 25 fils and dirhams per gram.
The price of a gram of 24 carat was 210 dirhams, an increase of one dirham, while the price of a 22-carat gold was 197.25 dirhams, an increase of 50 fils.
The price of a gram of 21 carats reached 188.25 dirhams, an increase of 50 fils, and the price of a gram of 18 carat gold reached 161.25 dirhams, an increase of 25 fils.