Current information about gold prices indicates an increase in prices at the end of last week. They rose by 6.5-8.25 dirhams per gram compared to the previous week. This is the fifth consecutive week during which prices continue their rise. The overall increase in the price of gold per gram over the last five weeks amounted to 21.5 dirhams.
According to the representatives of gold trading and jewelry items, gold prices have reached record highs, significantly influencing the market, which has been reflected in a noticeable decrease in the sales of new jewelry. At the same time, there is an increase in demand for vintage jewelry and gold coins for resale, attributed to the price differences.
The manager of the gold marketplace noted that such a situation causes uncertainty among traders, who are delaying decisions on purchasing or selling gold items, expecting further price increases in the near future.
Gold prices demonstrate regional growth, achieving significant levels, unlike their analogs. This creates conditions for the sale of gold items in showrooms and stores. However, the demand for new jewelry remains low.
Overall, the increase in gold prices in the coming week ranged from 6.5 to 8.25 dirhams depending on the metal's karat. The increase in prices also appears in the reduced demand for new jewelry and the preferences of traders to delay the sale of their stocks, hoping for even greater price increases.
