Awaited gold dealers of each year to the summer season, where many expect them to a rebound in the gold market, which suffered from volatility in prices over the previous months, which under the ranges on the impact of news rise and fall of the dollar and oil due to the global financial crisis, which contributed to fluctuations in the gold prices in the world markets to curb demand witnessed by the market precious metal locally over the few months earlier, and in terms of movement of gold demand was made many gold traders dissatisfaction with the performance of the market during the previous days, the volatility continuing, and not attract customers for prices gold smiths different, pointing to previous seasons affected.
In spite of these indicators, experts predict an increase in the market demand for the yellow metal, driven by fluctuations in the stock market and reduce the interest rate on deposits in banks, especially since the investment demand for gold coincides with the increase in consumption due to the summer season and associate with the month of Ramadan and Eid al-Fitr.
The inability of the market to attract customers in light of volatility continuing in the price of gold various noting influenced by previous seasons because of the volatility and the inability of many people to buy what they need from gold, which were usually bought and sold easily in the past, which was the price level at half price level The current at the moment it has become to obtain the gold jewelry is more difficult than the last boom times.
In spite of these indicators that govern the market, but the expectations of experts suggest to increase market demand for the yellow metal driven by fluctuations in the stock market and dwindling interest rate on deposits in banks, especially that investment demand for gold coincides with the increase in consumption due to the summer season and associate with the month of Ramadan and Eid al-Fitr .
In Kuwait, said gold traders, that the movement of gold trading is witnessing a phase of stability these days Unusually, despite the holiday season for workers arrivals during the summer, which attributed experts to higher prices by more than 50% during the year, which dates back negative sales drop by 20% in the first half of this year, compared to the same period last year,
In Doha, there is an increase in the sales of gold jewelery driven annually purchases of the two countries expatriates who buy gifts before their return to their country, due to the decline in the precious metal levels.
In Dubai, the markets are precious metal turnout unprecedented visitors during the summer season from all over the world, due to the presence of a large number of gold shops that offer new designs and modern, in the field of jewelery and goldsmiths, which express all Altagafat, and international brands famous brand, and shared market Dubai’s gold in the major summer festival organized by the Dubai every year during the Dubai Summer Surprises.
And belong Dubai’s gone to class niche markets, saluting enjoys great fame among gold traders in the region and the world, and among its clients the lovers of gold who attend them from different countries, also has gold market business reputation reputation among markets, gold and diamonds, whether in wholesale or Retail, put it on top of the list in terms of product quality and compliance with international standards.
And In Saudi the estimated demand for gold markets during the summer of this year, more than 30 million riyals, especially after the increase in weddings taking place in the provinces of the kingdom.
Gold markets in the cities of Taif and soil and Khermh, Dammam and Riyadh citizens residents and shoppers them with the beginning of the summer season, has been estimated traders in the gold market store sales, amounting to about 350 shops selling gold jewelery and precious stones, by about 30 million during the summer period
Said one gold traders that demand for buying gold in the summer vacation is growing for submission as dowry for the bride during the marriage ceremony in those provinces, and that the groom pays the dowry large goes all to buy gold, while speaking one Egyptians living in Saudi Arabia to be residents flock to shops and gold markets jewelry to buy some gold ornaments as gifts to relatives after returning from Saudi Arabia and a private slice of teachers and their usefulness revive the coffers of those shops that have long suffered from a vacuum for long periods, as a result spacing occasions and the fluctuation of gold prices towards the ascent, with a global concern, which controls the gold markets, which is of tough global market expectations and full of surprises, which reflected positively on them in achieving revenue.
And more crews sales is Bridal crews and especially crews medium. , And that most of the factories linking version modern models of gold, near the solutions summer vacation, one of the longest seasons in order to achieve a profit, so as to constitute a factor attracts customers even more to the acquisition of gold, which is betting it some factories, which focuses largely on the timing of the descent models, which have become a significant factor in increasing customer appetite for buying
The Saudi society is characterized by the abundance establishment of social events and weddings during the summer vacation, which contributes to the high traffic gold markets in the Kingdom in general, and the intensity of demand for buying gold during this season. And expected the Tiger continuity of activity of gold and jewelry sector in the eastern region throughout the summer to the end of the holy month of Ramadan.
While gold prices have registered in Saudi Arabia are at record highs, after the impact of a number of factors led to the rise significantly influenced, as confirmed by a number of economic experts to transfer inventory reserves some countries from the dollar to gold.
