Gold purchases are taking place due to the reduction in rates and holidays (Photo: Emirates Illum).
In the UAE, there has been a steady decline in prices and an increase in demand for gold jewelery due to the holidays.
According to Emirates News Agency, compared to the end of last week, the price of one gram of gold decreased from two and a half dirhams to three dirhams at the end of this week.
Over the past two weeks, the overall drop in gold prices has reached 5.6 dirhams (5.75).
Gold jewelery showroom owners in the emirate say that the demand for jewelery has increased. Gold is being bought due to falling rates and holidays.
Showroom owners say that most people are buying more 21 and 18 carat jewellery.
A gram of 24 carat gold is priced at AED 234.25 in the UAE. It has decreased by 3.25 dirhams.
A gram of 22 carat gold costs 216.75 dirhams. A decrease of three dirhams was recorded in it.
21 carat gold is available for 209.75 dirhams per gram. It became cheaper than three dirhams.
Apart from this, the price of 18 karat gold per gram has come down to 180 dirhams after a decrease of two and a half dirhams.
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