Wednesday, 30th April 2008 (1187 views)

The volume of gold jewellery sales in the capital city of the United Arab Emirates (UAE) Abu Dhabi rose by ten per cent during March, according to reports.

Qatari daily newspaper the Peninsula quotes Reuters as saying the city also saw the value of its gold jewellery sales increase by 25 per cent during the same period.

Tushar Patni of the Dubai Gold and Jewellery Group told the news service that people were "flocking" to buy gold after market prices eased.

He added that compared to Dubai as a whole, Abu Dhabi had been lucky as it had "more wealthy gold buyers [at] the right time".

According to the site, Dubai's gold jewellery sales rose by 12 per cent by volume during March, with a five per cent increase on the first quarter of the year overall.

The Dubai Gold and Jewellery Group is a trade organisation that was formed in 1996 to support the Dubai Shopping Festival. Today, it represents over 700 members and promotes the state's jewellery industry to a worldwide audience.

 

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