Diwali seen to lift UAE jewellers
dubai — GolD mErCHAnts In tHE UAE ArE optImIstIC ABout upComInG sAlEs DuE to tHE stArt oF tHE DIwAlI FEstIvAl.
DEmAnD For JEwEllEry In tHE ComInG DAys wIll BE DrIvEn By sHoppErs lookInG to purCHAsE In lIGHt oF tHE AuspICIous oCCAsIon, As wEll As For InvEstmEnt purposEs, ExpErts In tHE rEGIon HAvE rEvEAlED.
SHAmlAl AHAmED, mAnAGInG DIrECtor oF IntErnAtIonAl opErAtIons At MAlABAr GolD & DIAmonDs, tolD Khaleej Times tHAt GolD prICEs HAvE BEEn At An AfforDABlE lEvEl tHIs yEAr, AnD tHAt tHErE wAs A Drop In tHE prICE towArDs tHE BEGInnInG oF OCtoBEr 2016. “THE prICE HAs BEEn stEADIly InCrEAsInG sInCE, AnD HEnCE wE FEEl tHAt It Is A GooD tImE to purCHAsE,” HE sAID.
“HIstorICAlly, CustomErs HAvE AlwAys prEFErrED to Buy GolD AnD DIAmonD JEwEllEry DurInG FEstIvE pErIoDs. DIwAlI Is onE suCH kEy FEstIvAl. THIs InCluDEs CustomErs From All wAlks oF lIFE AnD rElIGIons. For somE, tHE rEAson For purCHAsE Is tHEIr pErsonAl BElIEFs AnD FEstIvItIEs; wHIlE For otHErs, It Is A GrEAt JEwEllEry sHoppInG opportunIty DuE to tHE FAntAstIC offErs, AnD spECIAl FEstIvE CollECtIons lAunCHED By promInEnt rEtAIlErs In tHE rEGIon. WE ExpECt A GrEAt FEstIvE sEAson sAlE tHIs yEAr.”
AskED wHAt CustomErs wErE mAInly IntErEstED In AnD wHICH DEsIGns wErE populAr, AHAmED notED: “WE HAvE sEEn A CHAnGE In BuyInG trEnDs In tHE lAst FEw yEArs. CustomErs ArE morE IntErEstED In BuyInG DIAmonD, unCut DIAmonDs, AnD prECIous GEms JEwEllEry. GolD JEwEllEry stIll rEmAIns tHE Bulk oF tHE sAlE, HowEvEr wItHIn tHE GolD CAtEGory wE sEE tHE pErCEntAGE oF lIGHtwEIGHt AnD FAsHIonABlE JEwEllEry ConstAntly InCrEAsInG. WE HAvE lAunCHED ovEr 110 spECIAl FEstIvE JEwEllEry CollECtIons to CAtEr to tHE CHAnGInG AnD EvolvInG rEquIrEmEnts oF tHE CustomErs.”
MIHIr KApADIA, CEO AnD FounDEr oF Sun GloBAl InvEstmEnts, notED tHAt DIwAlI AnD tHE FEstIvAl sEAson HAs AlwAys sEEs stronG DEmAnD For GolD BuyInG In InDIA. > TURN TO PAGE 33 > SEE ALSO PAGE 34