Analysts noted that gold prices increased to the end of the week to 2.75-4 dirhams per gram for different carats compared to the previous week. This was stated by experts from gold trading departments and jewelery manufacturing, adding that the current price increase stimulated the demand for jewelry made of gold, while some sellers are eager to sell coins and previously used jewelery. The cost of one gram of 24-carat gold amounted to 391.75 dirhams, increasing by 4 dirhams compared to the previous week. The gram of 22-carat gold decreased by 3.25 dirhams, reaching a price of 362.5 dirhams, while at the same time, the gram of 18-carat gold was valued at 298 dirhams, increasing by 2.75 dirhams.
The General Director of the company "Dekhkan" in gold trading and jewelery manufacturing, Jai Dekhkan, noted that the price increase for gold decreased the demand for new products, limited by a small weight, and encouraged the sale of already existing products and coins. The price increase did not stimulate sellers of alloys to sell their products, but some buyers began to prefer medium-weight goods, expecting further price increases for gold.
According to the words of the director of the International Department of jewelery manufacturing of the company "Titan" Aditia Singh, the rise in gold prices negatively affected the market, leading to the fact that many consumers plan to purchase jewelry within a predetermined budget, giving preference to more compact designs. According to the opinion of the director of sales in the store "Deymo" for trading in jewelery, Dili Sona, the price rise caused increased demand for previously used jewelry and coins to benefit from newly recorded maximum prices for gold. The cost of one gram of 21-carat gold amounted to 347.75 dirhams, increasing by 2.75 dirhams.
