Gold rate in UAE record yesterday, new highs in prices, ranging between 2.5 and 3.25 dirhams per gram in various calibres, compared to prices last weekend, according to the stated price indices in Dubai and Sharjah markets until yesterday afternoon.
With the recent weekly increase, was the outcome of price rises since the end of the first week of last September about 14 dirhams per gram.
Gold trader in Dubai and Sharjah said that the new highs in gold prices contributed to the increased sales slow sharply, especially after large cumulative gains witnessed by gold over the past weeks,explaining that contributed to rises in carrying a number of shops large losses are counting on compensated during the Eid al-Adha next, with limited activity in the market today on the sale of used jewelry.
24 carats gold rate yesterday 213 dirhams,up $ 3.25 dirhams for the end of last week, while the price of a gram (22) carats to 200.5 dirhams, an increase of 3.25 dirhams, and the price of gram (21) carats 190.75dirhams, an increase of three dirhams, while (18) carat 163.5 dirhams, an increase of 2.5 dirhams.
The director of sales in shop «Jewelry faith, Awad Al-Jabri, said that« new increases in the price of gold contributed to the increase in unit decline in sales, which reached this week only 60% compared to last week »
Indicating that «the continuous decline in sales during the past four weeks, shares carrying a number of traders mixed losses as a result of the scarcity of sales, which make most traders are hoping to compensate their losses during the next Eid al-Adha .
In turn, said sales manager in Shop «Jewelry Alujain», Ahmed Abbadi, said that «the slow sales in the markets continued to rage this week in the continuing high prices continued four weeks ago, punctuated by sales simple to tourists and participants and visitors to exhibitions (Cityscape) and (GITEXSchober) meetings held in Dubai.
