AED 16 up in the price of a gram of gold in a week

The price of a gram of 24-carat gold was AED 236.75. Archival

Gold prices rose by the end of the week between 11.75 and 16 dirhams, for various carats, compared to their prices at the end of last week.

According to officials outlets for the trade of gold and jewelry, «Emirates Today», that the rise in gold prices recently contributed to the slow demand for sales of gold jewelry, and the growth of the sale of gold coins from dealers to stores.

The director of the company «Rekesh Jewelry», Rikesh Dahan, said that «the price rises recorded by the yellow metal recently, affected by the variables of international markets, and the growth of demand for gold globally, had many repercussions on the rates of demand in the markets, as the demand for sales of new gold jewelry declined».

He pointed out that «price increases contributed to the growth of sales of gold coins to stores, while traders in the bullion sector for investment purposes are waiting to record a further rise to sell what they hold to stores, to achieve greater gains».

For his part, the director of the company «Dahkan Jewelry», Jay Dehkan, that «sales of tourists and visitors recently accounted for the largest shares of sales, with the popularity of tourist traffic, while the recent price increases had repercussions in the rates of demand from dealers residing on new gold jewelry». The sales manager at the store «Damon Jewelry», Dilip Son, that «the recent price rises for the yellow metal, limited the demand for the purchase of new gold jewelry, and wait to record price declines stimulating in the coming days». In addition, the price of a gram of 24-carat gold was 236.75 dirhams, an increase of 16 dirhams. The price of a 22-carat gram was AED 218.75, an increase of AED 14.25. The price of a 21-carat gram reached 211.75 dirhams, up 13.75 dirhams. The price of an 18-carat gram reached 181.5 dirhams, an increase of 11.75 dirhams.