Dubai – Gold Rate in UAE record rise ranging between three and 7.5 dirhams per gram, in various gold types , according to list prices in the markets of Dubai and Sharjah, compared to the end of last week.
This is the second increase elevations, respectively, achieved by gold, after scoring two dirhams reached heights over the past week, after consecutive declines amounted to 19 dirhams in three weeks.
Officials in stores Jewelry and Craft gold in Dubai and Sharjah, said that «the markets are still experiencing demand for jewelery and gold coins, although rates rises disparate, which did not affect the attractiveness of gold for consumers», stressing that the high demand for bullion offset by a decrease in supply during the two weeks two years.
And detailed, 24K record 155.25 AED, up 3.25 AED, compare with the end of the previous week, while the price of 22K record 147 AED, an increase of three AED and 21K record 141 AED an increase of 7.5 dirhams from the end of the previous week, while the price of 18K record 121.75 AED, an increase of 5.5 dirhams.
The director of trade development in the company «Jewelry Karen» Trade jewelry, Krish Kumar, said that «gold prices, despite the recent variants are still attractive to consumers, because recent increases did not reach the limits relate to gold prices, during May and June, which made rates prices not seen since the nearly three years.
He stressed that «the increasing consumer demand to buy gold bullion, for the purpose of saving and investment, contributed to the continuing crisis of shortage of supply of those bullion markets witnessed two weeks ago.
For his part, the official store sales «Jewelry happy», Abdulrahman Mohammed, that «the recent price hikes did not affect much in demand for retail outlets, especially for clients who are seeking to buy and bullion gold coins, with the aim of investing.
He added that «most of the demand is currently focused dealers of Asian nationalities on Ayari (21) and (22) carats, because they are at least a loss of (Workmanship value) at resale.
In turn, the director replaced «Jewelry Vienna», Essam Haddad, said that «dips big record gold in stages gradually during the past two months, has worked since the beginning of July to the continued demand for jewelry and bullion, which was not affected by increase price current limited, which did not reach After a par with the value lost by gold, has contributed to the continuing demand for ports in varying proportions.
Gold Price Dubai – Gold prices rose in Dubai and Abu Dhabi, two AED during this week after falling 19 dirhams over three weeks after the rise in the price of gold according to the World Gold prices stated in the Dubai Gold Exchange.
Gold Traders in gold market in Dubai said that rising price of gold grams did not affect much on the sale, which is still on the rise not seen in the gold markets in the UAE for nearly three years
In Madinat Zayed Gold market in the capital Abu Dhabi is still turnout residing to buy gold and gold jewelery in a marked increase as recorded most of the gold shops in Abu Dhabi nearly 40% rise in gold sales compared to the same period last year.
Gold Rate today in Dubai for 24K was 146 AED and 22K was 138 AED and 21K record 131AED
Dubai is biggest gold trade center in the Middle East.
The return of gold prices to rise before yesterday did not significantly affect the movement of the demand for purchase, especially with the achievement of gold declines varied during the week, Said Ammar al-Abadi director of gold shop in Dubai .
He pointed out that «the presence of tourist groups Gulf in Dubai at the moment to spend the summer holidays, contributed to the increased sales of gold shops for tourists from jewelery, especially with the excellence displayed in Dubai markets, specifically what makes the Gulf keen to purchase of the emirate».
The attractiveness of the current price of gold to support the growing demand dealers to buy jewelery now», pointing out that «elevations Ltd which sometimes occur do not affect the sales, which increased by about 40%, finally, backed purchased residing and tourist groups.
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.
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 UAE rose nearly two dirhams in a week, according to gold prices in Dubai gold market in Dubai and Zayed City Market for gold in Abu Dhabi.
Gold trader said : gold price hikes did not affect the sales and demand for gold as gold sales rose in Dubai gold market nearly 10% this week because of the Dubai Shopping Festival, which is witnessing demand from tour groups
In gold market in Dubai today the price of gram 24K 202 dirhams, while the price of a gram 22K to 190 dirhams and the price of gram 21K 180 AED scored gram 18K 154.25 dirhams and the price of one kilo gold in Dubai to 201,980 dirhams.
Traders said the recent increases in the price of gold was not impressive, both on the rates of demand for jewelery sales or bullion and gold coins, especially on the part of tourist groups and the current rise in gold prices come under regular rates in global gold prices.
On the other hand began Department of Economic Development, in Dubai, the implementation plan for the deployment of a smart monitors for gold prices in markets key for gold in the emirate, and some major business centers infested stores gold include gold markets in Deira, Bur Dubai, and Dubai Festival Mall, and Gold Souk in Dubai Mall , and a number of shopping malls including Al Ghurair
The department said those screens is one of the tools that can provide protection for the consumer, through which it can know the price grams gold per standards which are sold in the market
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This comes during the Dubai Shopping Festival 2013 and witnessed by the money in the UAE capital.
