Dubai Shopping Festival to spur gold and jewellery sales

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13-Jan-2014

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Dubai’s gold and jewellery trade is seeing its biggest rush of buying activity since last year as shoppers make full use of the continued softness in the metal’s prices, now around $1,200 an ounce. It has thus fired up sales during DSF 2014, with daily volumes since January 2 averaging 200-225 kilos from the 180 participating jewellery outlets according to sources at the Gold and Jewellery Group. Since the DSP opening, gold in Dubai was averaging Dh 140.5 a gram for 22-carat. The highest it ever touched was Dh199 in 2012. Last year, average volumes during DSP were 150-170 kilograms, when gold was about $1,640 an ounce.

 

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