Friday, 19th November 2004 (8473 views)

Dubai's gold jewellery trade has seen considerable activity over the last month, despite higher gold prices.

According to the Dubai Gold and Jewellery Group, sales grew by as much as 20 per cent at certain points throughout a special month long festival promotion which finishes today.

Total sales turnover during 'Dubai, the City that Cares' increased to Dh 199.06 million, compared to Dh 184.32 million in the year before.

K. P. Baiju, general manager of Dubai Gold and Jewellery Group told the Khaleej Times: "The trade has witnessed a year-on-year growth of eight per cent, but during the middle of the 'City that Cares' promotion, which was launched on October 14, sales went up as high as 20 per cent in spite of the higher gold rate, thanks to Eid and Diwali shopping."

Although gold prices were high during the period, it did not appear to put consumers off when they were visiting the 240 outlets that took part in the promotional event.

Jewellers claim that sales remained high due to special incentives on offer, the confidence of consumers in the precious metal and the continuing appeal of gold.

 

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