35 dirhams in the price of a gram of gold within 4 weeks

Gold and jewelry ports in Dubai and Sharjah reported that the markets have recently witnessed a remarkable activity in the gold alloys trade, whether for sale to stores or buying new alloys, after the yellow metal recorded great altitudes.

They told «Emirates Today» that many dealers expect more price rises for gold, which motivated a number of them to buy alloys, while price increases contributed to reducing the sales of the workcarfs during the Eid period compared to the similar period last year.

Gold prices were recorded at the end of last week, increases with values ​​that ranged between 12.75 and 16.75 dirhams per gram of various calibers compared to their prices at the end of the week before, according to the price indicators announced in Dubai and Sharjah, bringing the total value of the price increases for the gram of gold to 35.75 dirhams within four weeks.

In detail, the price of a gram of 24 karat gold reached 379 dirhams, at the end of last week, with an increase of 16.75 dirhams compared to its prices at the end of the previous week, while the price of a 22 -karat gold gram recorded 350.75 dirhams, an increase of 15.5 dirhams.

The price of a 21 -carat gram reached 336.5 dirhams, with a height of 15 dirhams, while the price of a gram of 18 karat gold reached 288.25 dirhams, an increase of 12.75 dirhams.

The director of sales at the “Artist for Gold and Jewelery Trading”, Dilip Patni, said that the last price rises recorded by the yellow metal at great rates, contributed to the occurrence of different changes in the market during the Eid Al -Fitr season, as the gold jewelry witnessed limited sales compared to the previous feast seasons, while in return the alloys trading witnessed remarkable growth whether in selling or receiving purchase.

He explained that the traders who sell alloys prefer to sell currently to benefit from price increases, while some dealers who buy price registration expectations depend on more increases.

For his part, Jay Dahkon, the director of the “Dahkan for Gold and Jewelery Trading”, said that the arrival of gold prices at new record rates contributed to a state of great activity in the gold alloys sector during the Eid Al -Fitr season through some sales by dealers to stores, as well as the purchase of new alloy customers in order to benefit from the trend of yellow metal prices to rise during the coming period.

In turn, Raj Bahoum, director of the “Macho and Jewelery Trading”, stated that the purchases of the gifts of the artifacts during the Eid period focused on the cutting of low weights from the 18 and 21 carats.