Christmas gifts and the holiday season revive gold and jewelry sales

Officials of gold and jewelry trading outlets reported that the markets have recently witnessed a recovery and an increase in demand for sales of gold jewelry and jewelry, supported by the demand of customers to buy gifts on the occasion of “Christmas” and the current holiday season.

They indicated to “Emirates Today” that the growth in demand in the markets limited the effects of the recent return of yellow metal prices to rise, expecting sales to grow at a greater pace in the coming days, at rates between 30 and 40%.

The price of a gram of 24-carat gold reached 318 dirhams, an increase of 3 dirhams, compared to its prices at the end of the previous week, while the price of a gram of 22-carat gold reached 295.5 dirhams, an increase of 2.5 dirhams. The price of a 21-carat gram reached 285 dirhams, an increase of 2.25 dirhams. The price of an 18-carat gram reached 244.25 dirhams, an increase of two dirhams.

The CEO of Layali Jewellery, Anurag Sinha, said, “The markets are currently witnessing positive growth in demand for gifts of jewelry and gold jewelry, with a number of customers eager to buy these gifts on the occasion of the holiday season and Christmas,” pointing out that “ The demand included residents or tourists in the country’s markets.”

He explained, “It is expected that the pace of demand for jewelry and handicrafts will continue during the coming days, with varying trends in demand from customers for purchasing gifts, as some prefer to buy early, while others await offers in the markets and take their time buying.”

For his part, Director of Dehkan Gold and Jewelry Trading Company, Jay Dehkan, said, “The gold and jewelry markets are witnessing signs of recovery in demand for their sales, with the increasing demand of some dealers to buy gifts on the occasion of the current holiday season and (Christmas),” pointing out that “Sales in the markets witnessed growth between 30 and 40%, and the same growth rates are expected to continue in the coming days.”

He explained that “the strong growth in demand from dealers currently has limited the effects of the return of gold prices to rise during the recent period, especially since the current period is considered one of the stimulating seasons for purchasing handicraft gifts.”

The sales manager at the Daimo Gold and Jewelry store, Dili Sun, said, “Many customers tend to buy gifts of handicrafts and jewelry on the occasion of the holiday and Christmas season, which has had a positive impact on the revitalization of the sales outlets.”

He added, “The strength of demand has limited the effects of the recent price increases for the yellow metal,” expecting continued sales growth in the coming days, in a manner similar to the current period, with growth rates estimated at about 30%.