May 2008 gold jewellery sales register increase in UAE

Dubai’s gold jewellery sales volume rose 18 % in May 2008 (over corresponding 2006 figures) on a relatively less volatile and lower gold prices, according to Tawhid Abdullah, Managing Director, Dubai Gold & Jewellery Group. In the UAE capital, Abu Dhabi gold and gold jewellery sales were steady in May 2008 but demand from expatriates buying gifts ahead of the summer vacation season was expected to boost sales in the coming months according to a senior official at the Abu Dhabi Gold & Jewellery Group.