Tag: gold jewelery in Dubai

UAE gold prices fall five dirhams today

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 rate of 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

June 29, 2013
Gold prices rise again and the Gram climb 3 dirhams

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.

October 6, 2012
High purity raises the demand for gold Dubai

Ruled Vice President Gold and Jewellery Group in Dubai Chandu Siroya affect recent rises in the price of the yellow metal globally rates domestic demand in both on the class gold ore in the form of bullion or coins or «break» dedicated to export, or for gold jewelry, which accounts individually to about 60percent of gold sales in Dana.

He said that gold prices recorded consecutive rises since the beginning the the year, which inspires confidence in investment.

Gold achieved considerable price jump in the past week to the price of $ 1,650 an ounce in average of (more than 6,000 dirhams), an increase of up to about 5 percent since last May, after the beginning exaggerated for gold prices, which reached to about 1750 dollarsounce touched the limits the $ 1,800 several times in the beginning the the year.

He told «Economic Vision» to the great demand for gold jewelery in Dubai markets due to the diversity of the exhibits it, and the degree of purity and high competitive price compared to markets around the region, pointing to the significant impact of strong demand from Indians living in Dubai for gold jewelry.

Said that, contrary to what may seem the appetite consumers of the yellow metal in Dubai and the UAE in general respond positively to the rise in world prices reflecting the strength of a savings and investment tool.

He pointed out that gold consumers investment pool often prefer to wait while gold prices are rising significantly to ensure the seriousness and stability wave prices before they decide to initiate purchase.

He pointed out that the positive outlook on the feasibility of investing in gold was behind the increased demand in the recent period, whether by individuals or institutions, where he succeeded over the past years to achieve sustainable returns and stable to its investors, and took his place as an ideal way to invest and savings including attracted even small individual investors.

And about the major challenges facing the retail sector in Dubai, said that the sudden price change was and still is the greatest challenge facing the industrythe especially in the gold ones, which rely sales mainly on the tourists coming to Dubai and resident Indians.

He pointed out that the most important challenges faced by the gold trade in Dubai, controls developed by India, finally, which imposes the collection of taxes on gold carried by travelers to India, if the value exceeds a certain limit.

Indian authorities began about two months ago to impose taxes on gold worth more than 20 thousand rupees «equivalent to 1380 dirhams.

Mohammed Jamal , independent expert in the trade of gold and precious metals confirms that gold demand from all bullets and especially 24 carat, and the so-called Gulf gold increased significantly in the recent period, and the desire of consumers to seize the opportunity right price.

He pointed out that a significant gold investment activity was evident in first half of this year, given the decline in investor and consumer confidence in the investment pools or other investment such – real – and stocks.

confirm data from the World Gold Council that the consumption of the UAE gold arrived in the first quarter of this year to 19.4 tons, of which 16.4 tons in the form of artifacts, with 3 tons in the form of ingots and coins, down 14 percent from what has been consumed locally in quarter the first of – year 2011, who scored 22.5 tons, of which 19.8 tons of jewelry, and 2.7 tons bullion and coins.

As for global demand for gold during the first quarter of this year, reaching more than 1097 tons, valued at 59.7 billion dollars, issued in gold bullion investors list of the biggest buyers of gold, followed by buyers of jewelery for personal use.

August 31, 2012