At the end of the week, gold recorded price declines that ranged between 2.25 and 2.75 dirhams for various carats, compared to their prices at the end of the previous week, according to the price indicators announced in the Dubai and Sharjah markets.
The price declines came for the second week in a row, bringing the total decline in the price of a gram of gold to nine dirhams in two weeks, at a time when the decline in prices and the approaching occasion of “Valentine’s Day” or what is known as “Valentine’s Day”, which falls on February 14, reflected positively on Request for gold jewelry.
The price of a gram of 24-carat gold was 225.75 dirhams, a decrease of 2.75 dirhams, while the price of a gram of 22-carat gold was 209 dirhams, a decrease of 2.5 dirhams. In turn, the price of a gram of 21 karat reached 202.25 dirhams, a decrease of 2.5 dirhams, and the price of a gram of 18 karat gold reached 173.25 dirhams, a decrease of 2.25 dirhams.
The sales official at the “Reggie Jewellery” store, Mangesh Balikra, said, “The markets witnessed an improvement and activity in demand for sales of new gold jewelry, with the support of the approaching (Valentine’s Day) occasion,” pointing out that dealers directed to buy gifts of gold jewelry, most of which focused In small weight pieces, it had gradual positive effects, which are expected to improve in greater proportions during the coming days.
For his part, the director of the “Rakesh Jewellery” company, Rakesh Dahnak, agreed that the continuation of gold prices to their declines and the approaching occasion of “Valentine’s Day” contributed to an improvement in the demand for sales of artifacts, and stimulated many dealers to buy gifts of artifacts and gold coins, most of which are concentrated in weights. small.
In the same context, the sales manager of the “Al-Ayyam Jewelry” store, Galish Saqr, drew attention to the interest of a number of stores during the past days in the approaching occasion of “Valentine’s Day”, through new designs and collections commensurate with the occasion, such as handicrafts and jewelry that bear shapes of “hearts”, Or the red color is included, indicating that this contributes to attracting customers.
He emphasized that gold’s continuation of its price declines, after a long series of increases, which lasted for about five consecutive weeks, was one of the factors that contributed to the recent improvement in demand at varying rates.