In the gold markets of the United Arab Emirates, the price of one gram of gold has decreased by up to 9.25 dirhams during the last four weeks.

According to Emirates News Agency, gold prices continued to decline at the end of last week. This has been going on for four weeks. The last reduction has been from one and a half dirhams to two dirhams per gram.

Officials of gold markets in Dubai and Sharjah say that ‘Eid-ul-Adha holidays and the fall in gold prices have increased the demand for jewellery’.

The manager of a jewelery showroom said that people are coming to buy jewelery and gold coins due to the continuous fall in gold prices. Shopping has been buoyant during the Eid-ul-Adha holidays.

Another showroom manager says, ‘Usually demand for jewelery increases during Eid-ul-Adha holidays. Gold prices continue to fall with the holidays this year.