UAE Gold prices fell ranges between 2.75 and 3.5 dirhams per gram in various gold carts, compared to UAE gold prices last weekend, according gold rates in Dubai gold prices and Sharjah gold markets until yesterday .
Officials gold shop trader in Dubai and Sharjah that the declines in prices over the week is more influential in the Gold market compared to rates decline during the past week, which did not exceed one dirham per gram, that the decline in prices to support sales growth rates is limited.
The price of a gram gold 24k 202.25 AED, a decrease of 3.5 dirhams by the end of last week, while the price of one gram 22k to 190 dirhams, a decline of 3.5 dirhams.
The price of a gram 21k 180 dirhams, a decrease of 3.25 dirhams, while the price of a gram 18k 155 dirhams, a decrease of 2.75 dirhams.
The director of the shop «Basalt Jewellery», Ali Al Yafei, said that «decline in prices during the current week to support sales activity for our rates is limited, and reached 10%», adding that «decline in prices was a contributing factor in motivating consumers, especially Arabs and citizens who preparing for the establishment of their joys during this period of the year, to buy jewelry, but did not succeed in achieving the required activity in sales, due to continuing fears some dealers of price instability as a result of volatility’s rapid gold Finally, reaching high levels since the middle of this year ».
For his part, Director of Sales at the place of «Jewelry teller», Abdullah Mohammed Ali, he «despite the decline in sales rates relatively large during the current week, but sales grew at rates is limited, so with anticipation Most dealers further declines could nearly the same price limits during the first half of the year.
He added that «most traders rely on season celebrations (Christmas) and New Year’s Day, which is expected to raise the sales starting from mid-month to finish well proportioned», adding that «most transactions this week focused on works of the caliber 21 carats, from by Arab traders in particular.
In turn, according to official sales in the shop «Jewelry Design The», Asim Ali, that «decline in prices this week was of positive signs that have contributed to moving the sales, albeit at rates limited, but is not a powerful engine to stimulate sales a great extent, with continuation of the fact that gold prices in the already high rates do not encourage customers to buy it, pointing out that «New Year celebrations through the end of this month is expected to contribute to make good gains in sales of local gold markets.
