Dubai’s gold and jewellery sector glittered bright this Dubai Shopping Festival (DSF) owing to high sales, best ever in five years, with gold prices remaining subdued right through the festive period. In total, 7.5 tonnes of the yellow metal in various forms were sold by the 180 participating gold and jewellery retail outlets during the promotion period from January 2-to-February 2, 2014.
What made gold buying even more lucrative was the daily ‘Gold Raffle’ as part of which a kilo of gold and one diamond solitaire was given away every day during the month-long DSF.
“We witnessed the highest offtake on January 24 where participating jewellery outlets sold approximately 400 kilo of the metal on a single day,” reveals Tomy Joseph, general manager at the Dubai Gold & Jewellery Group.
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