Gold continues to climb .. and the customers are hedging by buying bills

Gold prices continued their elevations, for the fifth consecutive week, recorded at the end of last week, increases between 3.25 and four dirhams of love from various calibers, compared to the prices of the previous week, according to the price indicators announced in the Dubai and Sharjah markets, bringing the total price increases for the gram of gold within five weeks to 41.75 dirhams.

Gold and jewelry stores told «Emirates Today» that gold prices continued to fly for unprecedented new records, which imposed a relatively slow demand for gold jewelry, while hedgers of the purchase of gold bars for savings and investment purposes in light of expectations of continuing price increases.

They pointed out that the sales of tourists are currently supporting, greatly, the demand for new golden artifacts.

In detail, the sales officer in the “Gold Road for Jewelry Road”, Habib Sarhan, confirmed that there is a remarkable growth in the demand for gold alloys, in light of the expectation of many dealers to continue the price rises.

He told «Emirates Today»: “The continuation of gold prices, and the record of new additional increases, to reach unprecedented rates, which prompted many dealers, increasingly, to hedge, by buying gold bars, whether for saving purposes or investing in re -sale later.”

For his part, the sales officer at the “Mashoum Jewelery” store, Axali Noujash, said that “the recent additional price increases on gold prices have been relatively slow in demand for new golden artifacts that tourists have acquired the large turnout shares during the recent period, especially in the Dubai markets.”

He added: «Many dealers currently accept the purchase of gold alloys for savings or investment purposes, despite the recent price increases in gold, with the expectations of the continuation of the yellow metal in recording more price rises in the global and local markets.

In the same context, the sales officer in the “Al -Naeem Jewelry” store, Muddathir Ahmed, said that “the sales of tourists greatly support the demand for new golden artifacts, especially after the recent altitudes recorded by the yellow metal.”

He added: «Many dealers are heading to buy currently for savings -related purposes after high confidence in the continuation of the yellow metal and the increase in its gains, with some dealers focusing remarkably on buying alloys.

Gold prices

The price of a gram of 24 carat gold was 444 dirhams, with a rise of four dirhams compared to its price at the end of the week before, while the price of a 22 -karat gold gram was 4011.25 dirhams, an increase of four dirhams as well.

In turn, the price of a gram of 21 carat gold reached 394 dirhams, with a height of 3.25 dirhams, and the price of 18 karat gold to 338 dirhams, an increase of 3.25 dirhams.