Gold souq is back in business
dubai — Deira Gold Souq has reopened for business with reduced business hours, in accordance with the directives of the Supreme Committee of Crisis and Disaster Management, the Dubai Gold and Jewellery Group (DGJG) has announced.
The trade body for the gold and diamond jewellery sector in Dubai said in a statement that the retail shops within the souq operate from 11am to 9pm while the wholesale offices work from 10am to 5pm.
Prior to the opening, Dubai’s Al Ras, Naif, Deira Gold Souq and individual stores have completed an extensive sterilisation programme with stringent guidelines.
As per the guidelines, this stage of retail operations will allow retailers to employ 30 per cent of the workforce and customers, that will enable the correct practice of physical distancing norms. Sanitisers, masks and gloves will be made available for all staff and everyone including customers to minimise any risk within the outlets.
Tawhid Abdullah, Chairman of DGJG, said: “We express our gratitude towards the leaders of this country, all the government entities, Dubai Police, CID and all the first responders who worked tirelessly to get us to this point. We are all gearing up to meet the government’s expectations and consumer confidence.”
Chandu Siroya, vice-chairman of DGJG, said Dubai’s gold and diamond jewellery retailers will operate in accordance with all guidelines as laid by the Dubai Government to ensure the health and safety of the retailers and customers.
“From adhering to the timings to sanitising jewellery pieces, we are working at all levels to ensure that customers feel safe to shop,” Siroya said.
The retailers are also looking at ways to work on customer experience where the focus will be to make them confident of their retail environment.
When asked on the expected sales, Abdul Salam KP, treasurer of the DGJG, commented: “From last year’s Akshaya Tritiya to this year’s Akshaya Tritiya, gold prices are up about 35 per cent in a span of one year and is expected to further rise. With the opening of the retail outlets, we expect gold jewellery demand to pick up as gold has proven to be a safer investment option in this market condition.”
From adhering to the timings to sanitising jewellery pieces, we are working at all levels to ensure that customers feel safe to shop.”
Chandu Siroya,
vice-chairman of DGJG