High prices stimulate dealers to sell gold and alloys with small weights

Gold prices rose, at the end of last week, between 3.5 and 4.25 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 trading outlets told «Emirates Today» that the registration of the prices of yellow metal for new heights recently motivated a number of dealers to sell products for currencies and alloys of small and medium sizes, pointing out that the sales of new artifacts are witnessing slowly.

In addition, the price of a gram of 24 carat gold reached 406.5 dirhams, with an increase of 4.25 dirhams compared to its prices at the end of the previous week, while the price of 22 karat grams recorded 376.25 dirhams, an increase of four dirhams, and the price of a 21 -carat gram reached 360.75 dirham A carat to 309.25 dirhams, an increase of 3.5 dirhams.

“The return of gold prices to rise has stimulated a number of dealers on (cautious sale) for savings and investment products that include sales of small and medium -sized products from alloys and gold currencies to benefit from the high -end gold gram of gold, and watch more rises for the demand to sell products with larger weights.”

He pointed out that «gold prices are witnessing accelerated variables that make many dealers more cautious in sales and purchases.

Raj Bahi, director of the “Machu Gold and Jewelery Trading”, added that “the rise in gold prices were reflected in the markets in a state of slow and limited demand for the products of new golden artifacts, while the markets witnessed sales of customers of currencies and alloys with small and medium weights, to take advantage of the high price limits.”

For his part, the sales officer at the “Gold and Jewelery and Jewelery”, Mang Balik, pointed out that “the price rises of the yellow metal, have limited the demand for new golden artifacts, while the markets witnessed sales of used jewelry in addition to the demand of some dealers to sell gold and alloys, especially from small weights categories.”