The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Friday, 25th May 2007 (4771 views)

Now that the gold price has steadied there is expected to be greater demand for gold jewellery across the Gulf region, experts have said.

And due to the increased amount of people predicted to take trips back to their hometowns over the next few months, this is also going to be a factor in the decision of many residents buying gold.

According to A V Joju, Alukkas Jewellery's senior executive, who spoke to the Gulf Times, June and July are traditionally times when jewelers witness a rise in the amount of people wishing to purchase gold.

He explained: "This is because several people go on leave during the summer. And invariably many of them carry gold with them. The Gulf region is the best place to buy gold because of the guarantee on quality."

Additionally, Mr Joju added that gold is viewed as a 'safe haven' in terms of investments and this also contributes to its popularity.

Recently, the World Gold Council announced that gold sales in the United Arab Emirates had increased by 23 per cent during the first quarter of this year compared with the same period in 2006.

 

« Back to Gold News stories