Dubai gold retailers see rush for festive buying

Dubai gold retailers see rush for festive buying

Karim Merchant, chief executive officer and managing director of Pure Gold Jewellers, said: “We expect a strong seasonal buying given the post-pandemic rebound and stable gold prices and recommend buying with wide variety in designs and collections. We have a huge variety of 22 karat dedicated gold jewellery collections without making charges and exclusive diamond jewellery collections where customers pay only 25 per cent which we pay 75 per cent on behalf of the customer in addition to giving them the option of paying it over easy installment too.”

Gold prices currently in Dubai quote at Dh227.50 per 10 gramme for 24K, followed by 22K at Dh213.75; 21K at Dh204.00 and 18K at Dh174.75.

Nish Bhatt, founder and chief executive officer, Millwood Kane International, said: “Gold buying on Akshaya Tritiya is considered auspicious and every year we witness a spike in sales. With lockdown lifted, this year is expected to surpass the levels seen in the pre-pandemic era. Indians’ love for gold is well-known and has been a wealth creator for centuries. It is a hedge against inflation and a safe haven. Gold prices have risen around six per cent in the past year. The yellow metal saw a rise in prices