Today’s gold rates in Dubai are still higher when compared to the prices in the beginning of the month, when 24K was retailing at Dh154 per gram.
In Dubai the city of gold, Gold prices in the UAE for Gram 24-carat DH 159 .50 , gram 22 carat DH 150.75 , Gram- 21 carat DH 141.12 and 18 carat DH 121.50 .
Gold prices rose to a nine-month high as investor fears dominated them to risk risk-taking in favor of safe-haven investment such as gold after a new missile test for North Korea.
Gold prices are currently trading at $ 1320.1 per ounce after recording a low of $ 1313.7 per ounce and opened the day at $ 1317.2 per ounce as it reached $ 1318.4.
North Korea fired a medium-range missile over Japan before falling into the ocean in northern Japan in a new provocation to the United States in response to its military exercises with South Korea on the Korean Peninsula.
Stock indices fell sharply as well as demand for major currencies as investors rushed to gold as a safe haven in the market to jump to a nine-month high.
On the other hand, the US dollar is witnessing a drop to a 15-month low against the major currencies, which supports the rise in gold prices significantly.
The UAE ranks the first place worldwide in per capita consumption of gold, superior to the ancient countries such as India, in a new indicator on the strength of the State economy, according to Emirates today.
“Gold Group” of the Chamber of Commerce and Industry of Abu Dhabi, the expectation that prices are gold in the state decline during the next six months, revealing that sales of gold jewelry in Abu Dhabi, exceeded six billion dirhams during the first eight months of this year, and it is expected sales to exceed nine billion dirhams at the end of the year.
“the average per capita consumption in the Emirates of gold reached 30 grams per year, compared to just one gram per capita in India, for example,” noting that “this is a sign of the strength of the economy is growing, and high levels of living in the state. ” Said Abdul Wahid Al Marzouki the secretary “Gold Group”
Gold prices in the UAE settle on a weekly decline with the decline in gold prices with concern from the U.S. Federal statements about the stimulus program .
Gold prices in the UAE for Gram 24-carat DH 150 , gram 22 carat DH 142 , Gram- 21 carat DH 134 and settled gram 18 carat DH 115 .
Gold was unable to recover on Tuesday from sharp losses incurred the previous day, with investors filled with uncertainty over when the US Federal Reserve would begin to taper its monetary stimulus, while physical demand for the metal remained weak, reported Reuters.
Dubai – Gold Rate in UAE record rise ranging between three and 7.5 dirhams per gram, in various gold types , according to list prices in the markets of Dubai and Sharjah, compared to the end of last week.
This is the second increase elevations, respectively, achieved by gold, after scoring two dirhams reached heights over the past week, after consecutive declines amounted to 19 dirhams in three weeks.
Officials in stores Jewelry and Craft gold in Dubai and Sharjah, said that «the markets are still experiencing demand for jewelery and gold coins, although rates rises disparate, which did not affect the attractiveness of gold for consumers», stressing that the high demand for bullion offset by a decrease in supply during the two weeks two years.
And detailed, 24K record 155.25 AED, up 3.25 AED, compare with the end of the previous week, while the price of 22K record 147 AED, an increase of three AED and 21K record 141 AED an increase of 7.5 dirhams from the end of the previous week, while the price of 18K record 121.75 AED, an increase of 5.5 dirhams.
The director of trade development in the company «Jewelry Karen» Trade jewelry, Krish Kumar, said that «gold prices, despite the recent variants are still attractive to consumers, because recent increases did not reach the limits relate to gold prices, during May and June, which made rates prices not seen since the nearly three years.
He stressed that «the increasing consumer demand to buy gold bullion, for the purpose of saving and investment, contributed to the continuing crisis of shortage of supply of those bullion markets witnessed two weeks ago.
For his part, the official store sales «Jewelry happy», Abdulrahman Mohammed, that «the recent price hikes did not affect much in demand for retail outlets, especially for clients who are seeking to buy and bullion gold coins, with the aim of investing.
He added that «most of the demand is currently focused dealers of Asian nationalities on Ayari (21) and (22) carats, because they are at least a loss of (Workmanship value) at resale.
In turn, the director replaced «Jewelry Vienna», Essam Haddad, said that «dips big record gold in stages gradually during the past two months, has worked since the beginning of July to the continued demand for jewelry and bullion, which was not affected by increase price current limited, which did not reach After a par with the value lost by gold, has contributed to the continuing demand for ports in varying proportions.
Gold prices in UAE recorded a significant decline between five to seven AED per gram in the first trading day Saturday compared with the previous week’s rates according to gold price in Dubai Gold Exchange
Gold rateof 24K today 147 AED down 6.5 AED from the end of the previous week, while the price of 22K record 139 AED down at six AED, and 21K to 131.75 AED down five dirhams for the end of the previous week, while 18K record 113 AED down five AED.
Gold price has fallen in early trading yesterday to levels of less than $ 1,200 an ounce, but returned for remote after presence of purchases from the market, pushing gold prices to rise slightly, but still at low rate since three years.
Further gold record declines at rates significantly, during the past two weeks, has contributed to raising the sales of gold jewelery at rates exceeding 25%, compared to rates of turnout lower in the products sector bullion and gold coins as a result of watching the number of large dealers in these new quality declines, especially in the wake of the unexpected decline gold rates achieved by gold during the past three months, Said Jenic Rajbawar director of the shop «Vavor Jewellery»
Decline achieved gold prices during the past two weeks, was a factor activator of markets, after a slow sales witnessed by the end of last month, and until the middle of the month June, a result of preoccupation with some dealers at the end of the school year examinations of their children, in addition to travel some to spend the summer holidays », adding that« the continuing decline in prices supported sales growth rates of up to 30%, is expected to continue sales growth, if survival rates when rates are close ,said sales in the shop «Atlas of the gold and jewelery trade»
The current price of gold is at least nearly three years, which makes it suitable for clients, both in terms of buying jewelery for decoration or to invest across the bullion and gold coins», pointing out that «the last two weeks have seen sales growth rate of up to 30%, concentrated mostly in the works, especially in 22K, and 21K, for clients of Asian nationalities, said Yasser Mohammed sales in the shop «Romaizan Gold and Jewellery»,
He pointed out that over the attractiveness of current prices to customers, they come after Gram low price about 27 dirhams during the past two months, with total declines over the past three weeks, 19 AED
Gold prices in UAE today recorded a limited rise in the price of a gram of between 0.50 to 0.75 fils Compared to gold prices last week, according to the price of gold declared on the Dubai Stock Exchange and the Dubai gold market and Zayed City Market for gold in the capital Abu Dhabi
The officials outlets confirmed gold sales in Dubai said the vagaries of low gold prices during the month contributed to the support, where sales increased appetite for buying gold bullion.
The price of gold grams (24) Karat 168 dirhams, an increase of AED for the end of the previous week, while the price of Gram (22) Karat 158.75 dirhams, an increase of 75 fils.
And the price of a gram (21) Karat 150 dirhams, an increase of 75 fils, while the price of Gram (18) Karat 128.75 dirhams, down amounted to 75 fils.
«Markets experiencing a continuation of the demand for gold jewelery sales and bullion, coins, and did not adversely affected Heights the described as very limited» said General Director of «Dhecan Jewelry », Jay Dhecan,
Dhecan added that the decline in gold prices during the previous week, making the average prices at the borders of incentive to buy, not notified more than two years ago, prompting a large number of dealers of residents and tourists, to buy
For his part, agreed that sales in the official shop «Annan jewelry», Mohammad Shams, with Dhecan in that the limited gains in gold prices supported the continued demand for buying works.
He said that «outlets currently experiencing demand from dealers to buy bullion and gold coins, which ran out of some shops, with high purchasing them, in addition to jewelry, especially from Ayari 21, and 22 carats that are suited for decoration and savings together».
As a sales manager in a shop «ATM Jewelry», Abdullah Mohammed Thami, he stressed that the markets are still experiencing a growing demand for sales of jewelery, considering lower prices ahead of the summer holiday season of the positive things that support the sales rates.
– Christmas Contributes To Increase Gold sales IN Dubai gold market
– Increased Sales Of luxury Watches, jewelry And Diamonds In Dubai
UAE Gold prices today show decline in price gram gold ranged between 75 fils and AED per gram in various carats for the second consecutive week compared with last week to be total decrease in gold price in the UAE five dirhams within two weeks, according to gold prices in DGCX gold market in Dubai.
Trader in Dubai gold market said the gold market saw a recovery and boom in gold sales during the last period with the approach of Christmas, where gold sales jumped by between 20% to 30%, especially with the decline in global gold prices.
Gold prices in Dubai fell hit four dirhams during the last week when the price of grams gold 24 carat 198 dirhams, while the gram 22 carat AED 185, and reached gram 21 carat carat 177 dirhams and the price of grams gold 18 carat 151 dirhams .
Gold dealers in Dubai pointed that there are a significant increase in turnout dealers to buy gifts we of gold jewelery on the occasion of the celebration of birthdays, which reflected the increased sales of luxury watches, jewelery and diamonds, in addition to gold especially 21 carat and 18 carat.
Contribute to tourist groups in increased sales of the gold market in Dubai significantly, with high gold sales in the UAE during periods of increased tourist groups with low gold prices of local and global.
UAE Gold Rate Drops 4 Dirhams Per Gram In Gold Market
UAE Gold prices fell, between 3.25 and four dirhams per gram of various carats, compared to prices last weekend, according to list prices in the markets of Dubai and Sharjah until yesterday afternoon.
The indicators decline in gold prices this week, a return to market declines witnessed the beginning of December, which averaged three dirhams, after he recorded prices during the past week high reached about 1.75 dirhams per gram.
And reflected declines in the prices of gold positively on jewelery sales in retail outlets this week in varying proportions, supported by «Christmas», and the enthusiasm of consumers to buy gifts, according to officials in the gold artifacts shops in Dubai and Sharjah.
The price of a gram carat gold (24) carats, 199.25 dirhams, down four dirhams by the end of last week, while the price of one gram of caliber (22) carats to 187.5 dirhams, down 3.75 dirhams.
The price of a gram caliber (21) carats AED 178.25, a decline of 3.5 dirhams, scoring rounds gram (18) carats 152.75 dirhams, drop of 3.25 dirhams.
The official said sales in the shop «Jewelry Daizin that», Asim Ali, said that «declines gold prices this week contributed to the sales promotion rates varying in the market, especially with the presence of Iqbal to buy now to buy gifts jewelry special occasion (Holiday Birth)», expected «show sales growth rates, more and more influential in the market during the next week before the end of New Year’s Day, up to their maximum level.
In turn, director pointed replace «Ahmed Ali Jewellery», Mahmoud Ali Caso, that «despite the decline in prices a great extent during the current week, a large number of dealers still awaiting further declines in the price of gold, according to the expectations of global reports final, what the impact of the failure to achieve high growth rates in sales.
He added that «most traders rely on to achieve greater growth in sales during the next week with the approach of (Christmas), and the enthusiasm of the public to buy gifts.
The Bank «Saxo» specialist in trading and investment multi-asset via the Internet, said in an issued annual component of 10 forecasts for the year 2013, that the strength of the recovery of the U.S. economy in 2013 surprised the market, especially financial investors in gold, pointing out that the scene variable for the U.S. economy, and the lack of recovery in physical demand for the precious metal in China and India, which are facing difficult circumstances because of weak growth, high unemployment rates which, cycle Stimulate President to sell gold.
And gold is expected to fall to $ 1,200 an ounce, before central banks, especially in emerging economies to seize the opportunity, take advantage of low prices and buy gold.
Globally, gold fell yesterday, and remained close to its lowest level in four months, while heading for the biggest weekly loss incurred since June 2012, with the reluctance of investors due to the drop in the euro and the U.S. stalled talks aimed to avoid a financial crisis.
Gold fell in the spot market to $ 1.38 $ 1645.76 an ounce after recording the lowest price in four months at $ 1635.09 in the previous session.
Gold climbed in U.S. contracts for February delivery to $ 1646.90 dollars an ounce after falling yesterday to about 1636 dollars.
Dubai Gold Rate Declines Up To 3.5 Dirhams Per Gram
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.
Officials companies in the manufacturing sector and the gold trade said that , the improvement witnessed in different economic sectors in the domestic market since the beginning of the year, especially in the sectors of hospitality, retail, was a key factor in raising the sales of consumer demand (gold) during the first nine months of this year, against a decline in demand for investment (bullion and gold coins), compared to the same period of year 2011.
They confirmed that the fluctuation of gold prices, and achieved great heights in prices compared to last year, as a result of political changes in the world, was one of the factors contributing to the devaluation of gold sales in the UAE since the beginning of this year until last September, rose 7%, according to a recent report World Gold Council.
Report data for «World Gold Council» declined value of gold sales in the UAE by 7% to about 10.2 billion dirhams at the end of last September, compared 11 billion dirhams during the same period in 2011, as recorded local market decline in demand for gold (for investment) in the third quarter of this year by 29.5%, after falling to 112 million ( 411 million dirhams), compared 159 million ( 583 million dirhams) for the quarter itself from year 2011, while the consumer demand for jewelry around 315 million dollars (1.15 billion dirhams), compared to 449 million (AED 1.64 billion for the same quarter of last year.
dominated demand for gold jewelery in the UAE to 75.8% of the total demand for gold during the third quarter of this year, estimated at 8.7 tons, compared with 73.8% during the same quarter of 2011 ».
Director-General said in the company «Dahab» for manufacturing and trading gold, Suhaib Sheikh, said that «the high demand for gold against a decline in buying gold for investment in the state, was the result of a logical improvement remarkable achievements of different economic sectors in the country, especially in the hospitality and tourism sectors , and the recovery of the movement of tourist groups to the State during the last season of Eid al-Adha.
Pointed out that «it is possible that the value of gold sales fell, but the rates of demand for gold jewelry, The small or light, rose.
In turn, the Director-General said in the company «Rosy Blue to trade and supply of gold, Aaron Bahtnjar, that« the demand for gold for investment sales, including bullion and gold coins, witnessed a noticeable decline, which was confirmed by the report of the World Gold Council.
The Bahtnjar attributed the decline in demand for bullion, compared with an increase demand for gold jewelry to two factors improved financial access for some individuals as a result of the recovery of certain economic sectors, and increased sales of gold tourists.
He added that «the supply and sales of gold to the company in the domestic market, witnessed growth during the months 10 first of the year, reached 30%, compared to the period of time the same year 2011, which accompanied the results revealed by the global report on the status of the sector in local market.
Furthermore, the President stated in the company «Salem Shuaibi» Jewellery, Salem Shuaibi, that «sales jewelry has grown since the beginning of this year, backed by increased demand from tour groups, and procurement processes, even small amounts of residents», pointing out that «high volatility in prices during the current year has not been reflected positively on the purchase of gold bullion.
