In the UAE, women are selling second-hand jewelry due to the persistent stabilization of gold prices.
According to Emirates Allium, women are taking advantage of rising gold prices to buy new jewelry instead of the old ones. Demand for this specialty has grown significantly as a result of recent corporate scandals.
The day before, gold prices were slightly lower. The price of one gram of gold of different carats had come down by two to two and a half dirhams.Musa Saad, owner of a jewelery showroom, said the entire market was in a recession. Gold prices have risen and are rising steadily.
According to Musa Saad, the trend of buying new gold is less these days, however, new design jewelery is being bought by selling old design jewelery.
Used jewelry is usually sold at a lower price than new jewelry because gold prices have risen.
The manager of another showroom said that the demand for new design jewelery is very low but women sellers of old design jewelery are coming.
It should be noted that even before 2020, the vendors had stipulated on the sale of old gold jewelery that the old jewelery would be taken only after buying some new jewelery.
