Standard heights exceeding 21 dirhams in the price of a gram of gold within a week

Gold prices recorded record heights, at the end of last week, a values ​​ranged between 16.5 and 21.75 dirhams per gram of various calibers, compared to their prices at the end of the previous week, according to the price indicators announced in Dubai and Sharjah.

Officials of gold and jewelry trade told «Emirates Today» that the return of gold prices to record heights and great values ​​contributed to strengthening the demand of dealing with alloys to stores, at limited rates, while the demand for new golden artifacts decreased, with the control of the anticipation of most of the transactions, after achieving the yellow metal new standard price indicators.

The price of a gram of 24 karat gold was 404.75 dirhams, a height of 21.75 dirhams, compared to its prices at the end of the previous week, while the price of a 22 -karat gram recorded 374.75 dirhams, an increase of 20 dirhams, and the price of 21 karat gram reached 359.25 dirhams, at a height 308 dirhams, an increase of 16.5 dirhams.

“The prices of yellow metal have recorded new standard heights during the recent period, with the support of the growth of demand for gold in international markets, which in turn reflected the local markets, which in general witnessed manifestations of anticipation by the dealers, while some dealers tended to sell bomb products to stores to benefit from price increases.”

He added that «the sales of stores can witness growth at greater rates during the coming period, with some dealers, who are preferred to wait now in anticipation of prices, to sell during the coming period, whether prices stabilized or recorded new increases according to expectations.

For his part, the director of sales at the Dimo ​​Gold and Jewelery Trading Station, Daily Sun, said that “the anticipation is the most prominent trend in the markets currently by customers, after the recent price increases that came at great rates that make many customers prefer to postpone the sales or purchase decisions,” noting that “alloys to a number of sales outlets are still limited, and are expected to rise at greater rates During the coming days. ”

The sales official at the “Reggity of Gold and Jewelery Trading”, Manji Balik, added that “the registration of gold is new standard rates in the price rises recently, its effects appeared by slow demand for buying new gold jewelry, with many dealers postponing the purchase decision until prices fell, while some dealers in the alloys sector tended to be careful sale of products from alloys to the sales outlets, especially from medium weights, while Some dealers are waiting for the anticipation of new altitudes to go for sale at greater rates. ”