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Tag: Gold Rate In UAE

  • Gold sales in UAE grow 5% to 3.8 billion dirhams in the first quarter

    Gold sales in UAE grow 5% to 3.8 billion dirhams in the first quarter

    Gold sales in UAE grow 5% to 3.8 billion dirhams in the first quarter

    Gold sales in UAE grow by 5% during the first quarter of 2012, rising to 3.87 billion dirhams, compared with 3.69 billion dirhams in the same period of 2011, according to the World Gold Council statistics.

    The record growth in gold demand for investment in the domestic market by 33% to 588.8 million dirhams in the first quarter of this year, compared to AED 441.6 million in the same period of 2011, while sales recorded on jewelry “gold jewelry” 3.87 billion dirhams, between January and March 2012, compared to 3.69 billion dirhams in the same period of last year, an increase of 1%.

    It showed Statistics World Gold Council, the demand for gold sales in terms of weight, “quantities” witnessed a decline in various global markets, including the UAE market and sales fell 14%, to fall to 19.4 tons in the quarter of this year, compared to 22.5 tons in 2011, down 3.1 tons.

    The gold sales in 2011 grew 24% in terms of value to about 12.8 billion dirhams, compared with 10.3 billion in 2010, an increase of about 2.5 billion dirhams.

    The Council that the demand amounts to invest in the yellow metal grew by 9% to a record 3 tons in the first quarter of 2012, compared with 2.7 tons in the same quarter of 2011, up 300 kg, while the demand for sales jewelry and gold wrought fell by 17 %, the amount drops to 16.4 tons in the period from January to March 2012, compared to 19.8 tonnes in the same period last year.

    The report predicted that in light of the results of the first quarter, the demand for gold during 2012 will record a growth rate of 2% in terms of value, while 19% will be reduced quantities.

    In Saudi Arabia, grew value demand for gold sales by 13% during the first quarter of 2012, rising to $ 823 million, compared with $ 731 million in the same quarter of 2011, and record investment in the yellow metal in the Kingdom increased 52%, to reach $ 250 million, compared with 165 million, while the value of the demand for gold jewelery 1% to $ 823 million, compared with 731 million in the same quarter of 2011.

    In terms of quantities, Saudi Arabia, has declined during the first quarter increased by 32% to 11.1 tons, compared to 16.4 tonnes, due to the decline in demand for jewelry manufacturers, by 17%, falling to 10.5 tons, compared to 12.7 tons, But that investment in gold rose 24% to up to 4.6 tonnes in the first quarter of this year, compared with 3.7 tons in the same quarter of 2011.

    In the rest of the Gulf states recorded sales value grew by 7% in the period from January to March 2012, to reach $ 285 million, compared with $ 367 million in the same period of 2011, and record investment in gold grew 38%, achieving $ 47 million versus $ 34 million, While demand grew jewelery sales in terms of value 2% to $ 238 million versus $ 233 million during the same period of comparison.

    In terms of quantities fell in the first quarter by about 13% in the rest of the Gulf states, to fall to 5.2 tons, compared to 6 tons, in the same quarter of 2011, while investment in experienced growth of 13% gold for up to 900 Clio grams, compared to 800 kilometers grams, and the corresponding decline in demand for jewelry quantities manufactured “jewelry” in the Gulf countries other than the UAE and Saudi Arabia 16%, falling to 4.4 tons, compared to 5.2 tons.

    The report pointed out that the global demand for gold grew by 16% in the first quarter of this year, up to $ 7 billion, while the decline in terms of quantities of 5%.

  • Gold Rate In UAE Rises 19.5 Dirhams During January

    Gold Rate In UAE Rises 19.5 Dirhams During January

    Gold Rate In UAE Rises 19.5 Dirhams During January
    Gold Rate In UAE Rises

    Gold rate in UAE rose again including ranges between 4.25 and 5.5 dirhams to various gold carats, according gold prices in Dubai and Sharjah, compared to prices last week, thus achieving hikes totaling 19.5 dirhams since the beginning of January.

    According to officials shops gold artifacts and jewelery in Dubai and Sharjah, that the continuing rise of gold prices over the slow sales, to active movement in the replacement market and used gold.

    They estimated the size of a decline in sales since the beginning of January until now rate ranged between 30 and 60% in Dubai and Sharjah.

    The price of a gold (24) carat yesterday 204.5 dirhams, an increase of 5.5 dirhams, and (22) carats 192.25 dirhams, an increase of 5.25 dirhams for its price late last week. Record gold (21) carat 183 dirhams, an increase of five dirhams, and gold (18) carats 156.75 dirhams, up 4.25 dirhams compared with the end of last week.

    The official estimated sales in the shop «Jewelry days, Saqr Jalish, a decline in sales since the beginning of January by about 60% compared to the previous month, as a result of new rises in the price of gold, which amounted to about 19 dirhams per gram.

    He added that «the movement currently mostly concentrated in the sale of used gold, which increases with a rise in gold prices.

    For his part, the director shop «Jewelry Dhecan», Jay Dhecan, and there is a significant decline in the rates of sales in the jewelery trade outlets rate ranged between 20 and 30% compared to the corresponding period of last month.

    He said that «traders fear the continued slow sales, and increased severity in the event of another rise for gold prices, which reflected negatively on the market.

    In the same that «Gold prices rose significantly, what reducing demand, whether resident or tourist groups», pointing out that the majority of consumers are turning now to sell Mchgullachm in the face of rising gold prices, at a time when postpone buying in the hope of a similar decline in prices for the past two months.