Gold prices continue to rise for the second consecutive week, marking - according to data from the previous week - an increase between 2.5 and 3.75 dirhams per gram for different carats compared to prices at the end of the previous week, according to information published in Dubai and Sharjah. The total increase for the two weeks amounted to 12.25 dirhams per gram.
A manager from "Mashu Jewelery Products" noted that markets are observing an increase in demand for gold coins due to a significant rise in gold prices, as well as changes in some traders' preferences for purchasing bullion expecting new price increases. He also reported that sales of products are experiencing a slowdown in demand.
The sales manager from "Daimo Jewelery Products" explained that market demand is starting to shift from the purchase of products towards the purchase of coins due to the recent rise in gold prices, which has led to a slowdown in demand for new gold products, with accumulated purchases by some traders anticipating a possible price drop.
At the same time, notes from participants indicate a continuing rise in gold prices, attributed to changes in supply and demand in the markets, along with increased interest in purchasing gold coins as gifts and decorations, which can be used in decorations as chains and bracelets. Calculating with recent prices, a gram of 24-carat gold is priced at 332.75 dirhams, while 22-carat gold stands at 308.25 dirhams.
