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.

Wednesday, 8th July 2009 (1119 views)

A growing number of jewellers in Dubai are selling 22-c gold products to attract more buyers, it has been reported.

Retailers speaking to Reuters said they are beginning to look to a higher calibre of the precious metal to increase sales of gold jewellery and products to consumers arriving in the emirate from the Asian subcontinent.

Previously, traders had mainly focused on stocking 18-c gold products.

One salesman at a store in Dubai's gold souk said: "A lot of the buying power comes from the Indians and Pakistanis who just go after 22-c [gold]."

The gold souk - or market - in Dubai is located in the Deira area. More than 300 jewellers sell their golden wares in the souk.

Almost eight million tourists visited Dubai last year, according to the Dubai department of tourism and commerce marketing.

Official figures also show that the number of visitors staying in Dubai's hotels increased by five per cent in the first quarter of 2009.

 

« Back to Gold News stories