Thursday, 26th February 2004 (6917 views)

Sales of gold have continued to prosper in Dubai as the demand for jewellery has enjoyed a boost.

The Dubai Shopping Festival has helped ignite interest in the precious metal, with consumers responding in droves.

Indeed, Pure Gold Jewellers, a key player in the United Arab Emirate's gold market, say its sales swelled by 23.5 per cent during the festival.

Firoz Merchant, Pure Gold Jewellers chairman, said confidence in gold appeared strong, with both investors and consumers attracted to the yellow metal.

'Stakeholders in the gold business have seen attractive returns on their investments as the current commodities market situation justifies the confidence in gold as the consumers' ultimate investment tool,” he told Trade Arabia.

Dubai's Gold and Jewellery Group said sales increased 22 per cent to Dh450 million during the DSF.

 

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