The price of the gram fell by 7.25 dirhams in a week
Valentine’s gifts and low prices support the sales of gold jewelry
The price of a gram of 24 carat gold was 216 dirhams.
By the end of last week, gold prices achieved decreases that ranged between 5.5 and 7.25 dirhams per gram, of various calibers, compared to their prices at the end of the previous week, according to price indicators announced in Dubai and Sharjah.
Officials of gold and jewelry outlets told Emirates Today that sales of gold jewelry have witnessed remarkable activity during the past few days, in support of the price declines recorded by the yellow metal, finally, in addition to the demand of dealers to buy gifts on the occasion of Valentine Day, pointing to Customers continued to buy gifts related to that occasion in the following days.
In detail, the dealer, Muhammad Bahaa El-Din, said that he “bought a gift from the artifacts on the occasion of (Valentine’s Day) for his wife, and it was a small size of 18 carats.”
The dealer, Alaa Hassan, added that he “bought a small ring and bracelet on the occasion of” Valentine Day “, and that the low prices motivated him to buy two pieces.
The dealer, Samer Bashir, explained that he “bought a gift from the artifacts, supported by the low price of gold, and a celebration on the occasion of (Valentine Day)”.
In turn, the Chairman of the Gold and Jewelery Group in Dubai and the president of the “Jawhara” company, Tawheed Abdullah, said, “The (Valentine Day) event has positive repercussions on stimulating sales of gold jewelry, especially with the current prices of gold being a catalyst for buying, which in turn contributed. Increasing sales, from residents or tourists.
He added that «the spread of the distribution of (Corona) vaccines in various parts of the world supported the stability of the demand in the global markets for gold, which contributed to curbing the rises and heading to a decline finally, compared to the great rises that gold recorded during the past year.
For his part, Director of Sales at the “Diamond Jewelery” store, Dilip Sony, said that “the significant price declines of gold, finally, had good effects in stimulating sales of artifacts and increasing demand during the Valentine Day event, at rates that may exceed similar sales during The same occasion last year ».
He pointed out that “most of the purchases were concentrated in the small artifacts in size and weight, especially of 18 and 21 carats, with the increasing demand for those calibers, which have designs for models commensurate with the occasion.”
The director of “Dahkan Jewelery”, Jay Dahkan, considered that “keeping up with the price declines recorded by the yellow metal, finally, on the occasion of (Valentine Day), contributed to the revitalization of store sales after a state of calm and slow that the markets witnessed during the last period, especially since the declines. It reached the lowest price limits for gold, more than six weeks ago.
The price of a gram of 24 carat gold was 216 dirhams, a decrease of 7.25 dirhams, compared to its prices at the end of the previous week.
While the price of the 22 carat gram recorded 203 dirhams, down 6.75 dirhams.
The price of the 21-carat gram reached 193.5 dirhams, a decrease of 6.75 dirhams.
The price of a gram of 18 carats reached 166 dirhams, a decrease of 5.5 dirhams.
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