Gold prices rose by the end of this week, between 1.5 and 2.5 dirhams, for various karats, compared to their prices at the end of last week.
Officials of gold and jewelry trade outlets told Emirates Today that despite the return of gold to its rise, the offers and events of the Dubai Shopping Festival supported the demand for jewelry sales, expecting sales to improve to a greater extent during the coming period, in light of expectations. Prices decline.
Sales official at Reggie Jewellery, Mangesh Palikra, said: “The Dubai Shopping Festival offers in the gold markets were one of the positive factors that limited the negative effects of the high prices of the yellow metal on demand. This is while attracting the offers offered to customers, whether residents or tourists, to benefit from discounts on jewelry or prize draws offered for jewelry sales.”
For his part, the manager of the “Al-Jazo Jewelry” store, Musa Saeed, considered that “in light of the current price increases, tourist groups, during the current period, account for the largest percentage of sales,” pointing out that “Dubai Shopping Festival offers are among the factors that support attracting customers.” To benefit from the privileges offered through the festival, especially related to the draws for gold prizes.
The manager of the “Mashu Jewelery” store, Raj Bahi, pointed out that “the offers presented during the Dubai Shopping Festival supported the continued activity in demand for jewelry. This is despite the return of gold prices to rise again, after they declined last week, as part of a long series of price increases that raised the price of a gram of gold to significant levels, causing many traders to postpone purchasing decisions during the last period.
He added, “Tourist group transactions account for the largest proportion of sales during the current period, with the support of the offers presented by the Dubai Shopping Festival.”
In addition, the price of a gram of 24-carat gold reached 244.75 dirhams, an increase of 2.5 dirhams, compared to its prices at the end of last week. While the price of a 22-carat gram was 226.5 dirhams, an increase of 1.75 dirhams. The price of a 21-carat gram reached 219.25 dirhams, an increase of 1.75 dirhams, and the price of an 18-carat gram reached 188 dirhams, an increase of 1.5 dirhams.
2023-12-17 22:05:53
#Merchants #Dubai #Shopping #offers #support #demand #gold #jewelry
