Tag: Gold sales in UAE

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 price drop 20 AED per gram in the biggest drop in two years

UAE Gold prices show yesterday declines ranged between 16 and 20.75 dirhams per gram, compared to rates of price end of the previous week, according to gold rate in Dubai .

Officials jewelry shops described artifacts gold in Dubai and Sharjah, dips price as the largest in nearly two years, arguing that the market is witnessing activity growing in popularity dealers to buy bullion and gold coins and jewelry, bringing the sales of those products at rates exceeding ‬ 30% compared to last week.

price of gram gold (24) carats, yesterday 166 dirhams, a decrease of 20.75 dirhams by the end of last week, while the price of Gram (22) carats, 157 dirhams, down amounted to 18.5 dirhams.

The price of gram (21) carats to 148.25 dirhams, a decline of 18.75 dirhams, while the price of Gram (18) carat 127 dirhams, a decline of 16 dirhams.

A store manager «Alujain to jewelery trade, Ebadi preferred, that« the big declines in gold prices, spurred a large number of dealers to buy gold jewelery of various kinds, as well as bullion and coins for investment purposes and savings.

He stressed that «ports saw sales exceed the growth rate of 30%, compared to last week, especially with the turnout of Arab citizens and residents to buy large quantities of artifacts in preparation for weddings.

In turn, the official said sales in the shop ‘Jewelry of days’, Jalish Saqr, that «the significant decline achieved gold prices, finally, not seen in the market about two years ago, especially with the decline in the price of gold grams of rounds (18), which is most common in the sales, below 130 dirhams ».

He added that «declines lured dealers بالإقبال on buying alloys and products for savings, contributed to the increase in sales activity rates estimated at 30%, compared to last week.

For his part, an official said sales in the shop «Romaizan Gold and Jewellery», Mahmoud Al Yafei, said that «outlets currently witnessing a huge demand for gold bullion rounds ‬ 24 carats, which is most commonly used for the purposes of investment», pointing out that there is a growth in sales Goldsmiths rate is estimated at 30%, especially in Ayari (21), and (18) carats.

In the same context, the store manager pointed «Jewelry Dhecn», that «the declines recorded by the gold prices at high rates Finally, rates lifted demand for purchase in jewelery outlets, stressing that the market has not seen these prices since about two years.

He stated that «the current prices are attractive to buy customers, whether for decorative purposes or for savings, which revived sales of gold traders at rates varying ranged between ‬ 20 and ‬ 30%», expected to continue growth in sales in the event of continued gold prices at rates comparable to its current borders .

The official agreed sales in the shop «Kanz Jewellery», Mayor Femara, with his counterparts from the merchants in the retail outlets have seen during the past two days, an overwhelming response from dealers with gold prices start to achieve significant decline in rates.

He explained that «dips and synchronizing periods to prepare for the summer holidays and weddings, has contributed to the substantial growth in sales.

April 19, 2013
UAE Gold Drops 4 Dirhams Per Gram In Gold Market

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.

December 22, 2012
Dubai Gold Rate Declines Up To 3.5 Dirhams Per Gram

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.

December 7, 2012
Decline in the value of gold sales in the UAE during the 9 months by 7%

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.

November 27, 2012
UAE third in the world in the export of “gold bullion”

The Ministry of Foreign Trade, the UAE is one of the most important main actors in the international market for foreign trade gold bullion where acquired 7 .11 per cent of the international trade of gold bullion during the period of the “2007 to 2011” ..

And ranked third in the world for the most important countries for importing and exporting gold bullion during 2011 the value of / 1 .17 / billion / 9 .17 / billion dollars respectively.

The ministry said in a report released today on the development of UAE foreign trade of gold bullion / 2007-2011 / .. Switzerland and Sudan preparing one of the most important countries exporting to the UAE gold bullion during 2011 the value of / 2 2 / billion / 976 1 / billion respectively ..

Noting that the percentage contribution African market in the share of imports Emirates of gold bullion amounted to / 43 / per cent which underlines the importance that market to cover imports Emirates of gold, which requires the support of UAE investments in expansion in exploration and production in those markets in particular and the world in and focus on marketing to this الاستثمارت through posts and the establishment of specialized exhibitions and conferences so.

The report also pointed out that the UAE exports of gold bullion facing highly concentrated in two states, India and Switzerland, the percentage of exports to the two 71 percent of the UAE’s total exports from India during the year 2011 ..

He affirmed that it is concentrated in the export market for gold bullion and carries risk export ratio, which requires search for new export markets especially the Thai market and the U.S., Canadian and Turkish.

The report pointed out in this connection that the value of imports of Thai market of alloys of the world amounted to 2/16 / billion dollars in 2011, including imports from the UAE worth / 438 / million covering three per cent of the Thai imports from India .. Stressing the need for a specialized promotional missions to discuss the requirements of these markets and how to raise the proportion of the contribution of UAE exports to gold bullion.

The report also pointed out that India is a major importer of gold bullion at the global level through 2011 and covers the UAE more than a third of Indian imports of gold bullion in 2011 .. Formed Hong Kong’s most important exporter of gold bullion at the global level through 2011.

October 7, 2012
Gold prices in UAE rises 3 Emirates dirhams per gram

Gold prices in UAE rises 3 Emirates dirhams per gram

Gold prices in UAE rise again for the third week in a row between three to four dirhams per gram of various carats of gold according to the prices of gold in Dubai and Sharjah today with Compare gold prices for the last week and which Exceeded 12 dirhams over three weeks

The officials gold sales in Dubai said that rising gold prices in the past week has had a major impact on the movement of gold, where sales dropped by nearly 60 percent with limited movement on the sale of old gold by consumers.

The price of a gram of gold in the UAE today (24) carats 210.75 dirhams, up 3 dirhams from last week, while the price of a gram (22) carat 198.5 dirhams, scoring gram (21) carats 188.75 dirhams, and the price of gram ( 18) carats 161.20 dirhams.

Says Abdullah Mohammed Tuhami sales manager in place of «Jewelry teller» Trade jewelry that increasing gold prices in the UAE for a third week may have contributed to the lack of sales and the decline of up to about 60% compared to last week explaining that the rise in gold prices in the UAE for more than 12 dirhams to pay some consumers to resort to selling gold Jewelery to take advantage of current high gold prices.

On the other hand, said one gold dealers in Dubai gold market that most gold traders await improved the situation and preparing for festival (Diwali) Indian, which resolves after about a month, which exceed the sales of gold and buy gifts, which may contribute to the increased gold sales Emirates during that period, especially with coincided with the Eid al-al-Adha

September 22, 2012
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%.

May 21, 2012