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
Increased demand for gold bullion and the absence of any in Dubai gold market has become a real indicator of Dubai’s gold Worth during the past months. And supported the current decline in gold prices increased gold sales as gram price of gold fell more than 11 dirhams a day is the most Decline since three years compared to gold prices last week.
The price of gold gram of rounds (24) carat 156.5 dirhams, a decrease of 11.5 dirhams for the end of the previous week, while the price of Gram-caliber (22) carats 148.25 dirhams, down amounted to 10.25 dirhams.
The price of gram (21) carats to 139.75 dirhams, a decrease of 10 dirhams, and the price of Gram (18) carats 119.75 dirhams, down at nine dirhams.
He said many gold traders in Dubai that Decline of gold prices in UAE to pay a large number of dealers to rush to buy especially before the start of the holiday season for expatriates.
He added that sales of jewelry and bullion and gold coins rose by up to 30% and the entry into force of gold bullion in Dubai, the lowest price since three years
In turn, the official said sales in the shop «Jewelry days», Jalish Sakr, that «the dips price of new re-activity and the rates are great for gold markets, after it experienced during the past four weeks, slower sales, with the achievement of gold rises limited in succession, made purchases limited gifts of jewelry small and lightweight only ».
He revealed that «the decline in prices prompted traders to buy gold artifacts in large quantities for weddings occasions, also encouraged others to buy and bullion coins for investment purposes and savings.
He predicted Mohammad Eisaei official store sales «Romaizan For Gold and Jewellery» Gold prices continue to decline in the coming period, which pounces increase sales both jewelery and bullion and gold coins.
Gold prices very literally on a constant escalation over the years. It was so high that they were considered the best space for investing money. Gold prices did not stop people from buying more and more gold for this reason. The little extra money a middle-class person had was used in the buying of gold in other words for investing in gold. This has been continuing for over two to three years until recently when the gold prices fell low. People gathered at the jewellery souks to buy as much may sovereigns of gold they can afford during this period. Gold rates in Dubai were also not spared.
The recent trends:
During the last few weeks the gold rates in Dubai in Indian rupees were so low that it attracted a lot of people from the city to buy and store gold for the next gold rate inflation. Gold has been considered very important in many cultures to accessories women and me and also is considered to indicate the wealth of an individual. Gold is essential for weddings and a huge amount of gold is worn on these special occasions. As Dubai gold rate reduced people all over the world found this as a golden opportunity. The breaking news of low gold rates attracted all people to Dubai where the rates are much lower in comparison to other places.
The highs and lows:
Even earlier the gold rates in Dubai were highly attractive. More and more people preferred buying the gold of purity and good quality for the money paid in Dubai. In fact, the gold souks in Dubai always flourished on this concept.
Even when the price of the gold increased everywhere Dubai had its stock of gold with a different rate. This is one of the reasons why this emirate was highly popular in the international market.
Dubai always had its own significant contribution in the international market until the global financial crisis hit this city down.
The hopes of the people in gold market:
With the decrease in the Dubai gold rate the markets have almost come to its former shine. As people flocked into the markets it felt like the past again. The decrease in gold rates has proven advantageous to both sides the markets as well as the public. It was shocking news on the positive way for people all over the world when they came to know that the gold prices of this emirate has come down. People predicted that with the prices now low they could invest in the gold and later when the prices increase this could be of great value. For those who are close to the wedding season this was like a boon. Like always the rate of gold in Dubai has been never predictable. One can just hope that all the effort taken to use this opportunity does not look like vain in the next few days or months.
DubaiGoldRate– Officials gold shops jewelry in gold markets of Dubai , said gold sales rose hovered rate between 20 and 30% this week, due to the demand of dealers to buy gifts on the occasion «Valentine’s Day», also declines in the prices of gold worth $ 3.5 dirhams per gram contributed to the brisk sales to residents and tourist groups.
Globally, a report showed «orientations gold demand for the fourth quarter of the year 2012», which was introduced by the Foundation «Reuters», that global demand for gold in the last quarter of the year 2012 achieved million 195 thousand and 900 tons, registering an increase of 4% over the same period of year 2011.
UAE Gold Prices yesterday, a decline ranged between 3.5 and 3.75 dirhams per gram of various calibres, compared to the end of last week, according to price signals declared until yesterday afternoon, in Dubai and Sharjah.
The price of a gram of gold 24-carat 197 dirhams, a decrease of 3.75 dirhams for the end of the previous week, while the price of a gram of gold 22 carats to 185.25 dirhams drop of 3.5 dirhams.
The price of a gram gold 21 carat 176.25 dirhams, a decrease of 3.5 dirhams, at a time of record of gram 18-carat 151 dirhams a decline of 3.5 dirhams.
The director of the company «Dhecan for jewelry and trade works», Jay Dhecan, that «outlets of the company witnessed a growth in sales during the current week rates stood 30%, compared to last week, because Iqbal dealers to buy jewelry of all kinds, gifts occasion (Valentine’s Day ), pointing to the «gold price declines differently since the beginning of the week, until yesterday ranged between 3.5 and 3.75 dirhams per gram of various calibres, prompting traders to buy gold gifts.
In turn, agreed official sales in the shop «Jewelry days», Jalish Sakr, with his Dhecan in that «Valentine’s Day» raise rates demand for sales, especially on gifts gold colored, or which forms the hearts, both for necklaces or rings » . He stressed that «sales rose at a rate of 20%, supported by a decline prices compared during last week.
He pointed out that «the most sales in outlets focused on the works of Ayari 18 and 21 carats, as most works that are formulated and Trsaaha in various forms, such as hearts, colored in red, or to innovative forms.
In the same vein, said Director replace «Lausanne Gold and Jewellery», Fadi Pedro, that «(Valentine’s Day), and lower prices, shares in the increased sales rates reached 25% during the past week, with increased demand from tourists and residents, especially from Arab nationalities and European. He pointed out that «although sales have seen a rebound, most of the sales were concentrated in small jewelry gifts, especially manufactured and studded with colored forms.
Gold globally
Globally, the volume of global demand for gold during the year 2012 to 236.4 billion dollars, its highest value ever, while the value of global gold demand in the fourth quarter of last year to 66.2 billion dollars, an increase of 6% on the an annual basis, its highest value at all compared to the previous recent sessions, according to a report by gold demand trends for the last quarter of year 2012, which was introduced by the Foundation «Thomson Reuters GFMS.
The report showed that global demand for gold in the last quarter of the year 2012 achieved million 195 thousand and 900 tons, registering an increase 4% for the same period in 2011, with record average price of gold in the last quarter of the year 2012 record levels, reaching 1721.8 dollars per ounce, registering an increase of 1% for the standard price rate in the third quarter of year 2011.
The average price for gold 1669 dollars per ounce during the year 2012, an increase of 6% compared to an average price in 2011, when he scored 1571.5 dollars per ounce.
India and China
The report pointed out that, while the demand for gold in India throughout 2012 decreased by 12% for the year 2011, but the market has seen a strong recovery in the last quarter, reaching a volume of demand 261.9 tons, an increase of 41% compared to the period same quarter last year.
The volume of demand for gold and the highest levels of investment over the past six sessions financial, as the volume of demand for gold jewelry by 35% from previous years, to reach 153.0 tonnes. The strong demand for the retail sector to higher purchase for investment purposes to 108.9 tons. The report also pointed out that the demand for gold in China has seen stable on an annual basis, influenced by the economic slowdown, adding that in the last quarter, the volume of demand for gold rose 1% from the third quarter to score 202.5 tons, the total volume of demand for gold jewelry 137 tons, registering an increase of 2% compared to the fourth quarter of year 2011. While the total size of the demand for investment 65.5 tons, registering an increase of 2% compared to 2011.
Central banks
A report «orientations gold demand for the fourth quarter of the year 2012» high rate of buying gold with central banks throughout the year 2012 by 17% compared 2011, registered record levels since 1964, with a total demand 534.6 tons . He added that the volume of central bank purchases record 145 tonnes in the fourth quarter, registered an increase of 29% compared to the same period in 2011, making central banks topping the main purchasing power of gold over eight consecutive financial cycles. The recorded investment in global ETFs remarkable increase of 51% for the year 2011, while the volume of demand for gold in the fourth quarter 16% to 88.1 tonnes, compared to the standard rates achieved in the third quarter of 2012.
Gold markets
The executive director of the investment in the World Gold Council, Marcus pod, that «China and India to Atzalan largest gold markets in the world, despite the economic challenges, in India is still demand for buying gold is strong, despite the measures imposed to reduce the demand, which underscores the the role of gold in Indian society », adding that« the financial system in India is still primitive, but gold plays an active role. He mentioned that despite the expected economic slowdown in China, the size of the investment demand rose by 24% in the last quarter of 2012, compared to the previous quarter, while its gold consumption stable at 137 tonnes. He stressed that «the central banks have seen a transition from being a power of sale of gold purchasing power in recent years, as a record size of the informal sector procurement in all parts of the world the highest levels over nearly half a century. He pointed out that «despite the turmoil economic climate during the current year, and regional challenges that have affected India and China, the size of annual demand for gold record in largest markets worldwide increase 30% from the rate over the past decade».
Gold prices in the United Arab Emirates witness a stability and gold prices remained today in Dubai and Abu Dhabi market at same prices yesterday, record gram 22 carat 180.11 dirhams,and the rest of gold prices day recorded :
Gold Rate In Dubai Today For 24 carat gold : AED 195.772 per gram
Gold Rate In Dubai Today For 22 carat gold : AED 179.459 per gram
Gold Rate In Dubai Today For 21 carat gold : AED 171.3 per gram
Gold Rate In Dubai Today For 14 carat gold : AED 146.828 per gram
Gold Rate In Dubai Today For 18 carat gold : AED 114.201 per gram
Continued gold prices decline for the second week in a row, and gram lose more than 11 dirhams in two weeks, has encouraged consumers to return to the purchase, and raising the sales including ranges between 20 and 30%, according to officials in the shops for jewelery and gold jewelery in Dubai and Sharjah. The price of a gram of gold bullets different, a decline ranged between 4.5 and 5.5%, yesterday afternoon, compared with the rate prices a week ago, according to the stated price indices in Dubai and Sharjah.
And detailed, the price of 24-carat yesterday 185.25 dirhams, down 5.5 dirhams prices last weekend, while the total gram 22 carat 174 dirhams drop of 5.25 dirhams. And the price of one gram of 21 carat carats to 165.50 dirhams, down five dirhams, while the total gram 18 carat AED 141.75, a decline of 4.5 dirhams.
The director of the shop «jewel Baghdad» to trade jewelry, hekmat ward, that «low gold prices at rates that exceeded 11 dirhams in two weeks to support the return of consumer markets, as were keen to take advantage of the decline in prices, which is the largest in nearly three months, leading to increased sales, especially this week, rising by about 30% compared to last week.
Concurred in opinion official sales in the shop «Alujain Jewellery», Ahmad Ebadi, who stressed that «the continuation of gold prices in decline tempt a large number of consumers buying to take advantage of those declines, boosting sales, which rose at rates ranging between 20 and 30% compared to last week.
He pointed out that «continue to decline such large values will contribute to compensate merchants for prior periods was devoid of strong events, where prices rose sales Vtbatot, more focused sales and then to sell gold Mchgullachm dealers used.
Gold rate in Dubai decline ranged between five and 6.5 dirhams to different shots gold compared with the rate prices late last week, according to the gold price indices announced in Dubai and Sharjah markets until yesterday afternoon.
Officials at the shops for jewelery and gold, that decreases gold this week is the largest in nearly three months, noting that it has contributed to raising the sales rates ranging between 25 and 30% compared to last week, with stops Iqbal consumers to sell used gold .
The price of a gram (24) carats 190.75 dirhams, yesterday, down $ 6.5 dirhams for prices late last week, while (22) carats 179.25 dirhams down 6.25 dirhams, and the price of (21) carats to 170.50 dirhams, decrease of 5.75 dirhams, while the gram (18) carats 146.25 dirhams, down five dirhams.
According to sales manager in the shop «Jewelry teller» , Abdullah Mohammed Ali Thami, that «Gold has the largest rate of decline during the week for nearly three months, contributing to attract many consumers, which reflected positively on the higher rate of sales rates 30% compared to last week.
He added that «improved sales this week is a return to sales growth after a slowdown witnessed by the past weeks», pointing out that «low gold prices a great extent contributed to the stop Iqbal consumers to sell old used gold , which has spread recently with achieving gold high rates in previous weeks.
For his part, pointed out official sales in the shop «Jewelry Romaizan», Abdullah Fadil, that «Reserve price gram gold level since at least three months to attract Arab consumers and foreign tourists in particular, for the acquisition of works especially caliber (21) carats, raising sales by 25% compared to last week.
Furthermore, said managing partner in a shop «Jewelry Suez», Naveed Devji, said that «dramatic reductions in the price of gold has helped to increase sales», adding that «the continuing price decline in the coming days will show how sales growth among traders and how they benefit from this reduction ».
Gold rate in UAE rises yesterday, including ranged between 4.75 and 6.25 dirhams for shots gold different, according to list prices in Dubai and Sharjah, compared to prices during the past week, investigators first weekly gain during the month, which saw declines varied since start compared to last month.
The price of a gram (24) carats, yesterday 0.212 dirhams, up $ 6.25 dirhams for prices last week, while the total gram (22) carat 199.5 dirhams, up about six dirhams, and scored Gram (21) carats amount of 189.75 dirhams, an increase of 5.75 dirhams, while gram (18) carat 162.5 dirhams, up 4.75 dirhams compared with the end of last week.
Said salesman in gold trade that rises in the price of gold locally gradually began two days ago until it reached its current borders, which exceed six dirhams per gram compared to the end last week», adding that «Gold prices seen this week the return of the high prices in the markets affected by the global turmoil and political events in each of the Arab region, Iran and Greece.
