Emirates news, Emirates news today: Gold continues to decline .. and prices revive the sales of handicrafts Source of the news – Emirates news today with details of the news Gold continues to decline .. and prices revive handicraft sales:
The price of a gram of 24-carat gold amounted to 212 dirhams, a decrease of 4.75 dirhams, compared to its price at the end of the previous week, while the price of a gram of 22-carat gold amounted to 199.25 dirhams, a decrease of 4.5 dirhams. In turn, the price of a gram of 21-carat gold reached 190 dirhams, a decrease of 4.25 dirhams, and the price of a gram of 18-carat gold reached 163 dirhams, a decrease of 3.5 dirhams.
Officials of the gold and jewelry trade outlets confirmed to “Emirates Today” that the continued decline in gold prices reflected positively on the markets that witnessed a remarkable recovery in demand for new works.
They explained that most of the purchases were concentrated in 18-carat for dealers of Arab and European nationalities, and in 22-carat for dealers of Asian nationalities, while the sales outlets witnessed a demand for gold coins of medium and small weights.
In detail, the dealer, Hassan Ismail, said that he was postponing the decision to buy gold artifacts, due to the high prices, but he decided to buy finally after the decline in gold prices, which reached low rates.
In turn, the dealer, Mahmoud Jaafar, stated that he had bought two pieces of 18-carat gold, considering the current prices as incentives to buy, especially for those who had been planning to buy for a while, and postponed their decisions until prices fell to appropriate levels.
As for the dealer, Laila Khaled, she confirmed that she had bought a gift of gold jewelry from the Dubai market, before traveling, stressing that the drop in gold prices was one of the things that motivated her to choose gold as gifts for purchase.
In addition, the director of “Dahkan Jewelery Company”, Jay Dehkan, said that the markets have recently witnessed a remarkable recovery in demand for new gold works, supported by the continued price declines in the yellow metal.
He stressed that most of the ordering operations were concentrated in 18-carat, especially for dealers of Arab and European nationalities, while it was concentrated in 22-carat for dealers of Asian nationalities.
For his part, Director of Sales at “Reggie Jewelery Store”, Mangesh Balikra, said that the demand for the purchase of gifts of goldsmiths has recently increased, with the decreases recorded by the yellow metal for the second week in a row, and gold prices have reached the lowest limits in more than two months.
He stressed that the demand was not focused on the new goldsmiths only, but included the purchase of gold coins of small and medium denominations, especially from some dealers of Asian nationalities who prefer to buy coins for decoration and saving purposes at the same time.
In the same context, Ashok Poet, sales manager of the “Dahkin Jewelery Store”, said that the passage of the first period of the school season and the decline in prices, and the return of most dealers from their summer vacations, reflected positively on the revitalization of gold jewelry sales significantly recently.
He stressed that a large number of dealers were waiting for the prices to decline appropriately until they decided to buy, which happened recently with the continued decline in gold prices.
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