Enduring passion for gold

Though diamonds are still a girl's best friend, gold appeals to all.

Gold hasn't lost its lustre, and there are figures to prove it. According to The World Gold Council's regional office, the first quarter of 2006 witnessed an increase in gold sales in the UAE as figures reached Dh2.1 billion.

Gold is the perfect accessory for all seasons. "A single gold bangle worn around the upper arm or a number of bangles dangling from the wrist are perfect accompaniments to the brightly patterned, Indian-inspired tops that have taken centre-stage in designer and high street collections this season," says Moaz Barakat, Managing Director, World Gold Council in the Middle East, Turkey and Pakistan.

Other recommendations from the World Gold Council are layered chain necklaces and beaten gold chandelier earrings worn with peasant tops.

Upbeat market

Dubai's booming gold jewellery market is one of the major factors contributing to the rapid growth of tourism in the country. The centre of Dubai's jewellery trade is its famous gold souq.

"With no sales tax, Dubai is one of the cheapest places in the world to buy jewellery and gold. Visitors from Saudi Arabia are the single largest group among tourists in the UAE, arriving in the country to make the most of bargains in fashion, jewellery and gold. Similarly, millions of expatriates from the Philippines, Sri Lanka, Pakistan, Bangladesh and India, find Dubai an ideal and cost-effective place to buy gold, especially in the form of jewellery," says Sarah Rashid Belhasa, Vice Chairperson, Saif Belhasa Group and a jewellery designer.

"Industry statistics show about 45 metric tonnes of jewellery was manufactured in Dubai in 2003 using scrap gold and bullion bars. This figure is anticipated to increase by 25 per cent by 2008."

Avant-garde designs

In addition to jewellery manufactured here, the UAE is also a showcase for fine designer jewellery.

Cartier's latest jewellery range includes the LOVE collection and the La Doña line. "The recently updated LOVE bracelet, whose original model dates back to the 1970s, is a very modern bracelet with a flat bangle, and is connected by a simple line and two half circles. The LOVE bracelet is an avant-garde design for the new generation," says Patrick Normand, Managing Director, Cartier Middle East.

The La Doña line is available in yellow, pink or white gold in rings, bracelets, chains, earrings and pendants, and uses fine stones such as citrine and peridot.

The most famous shape in diamonds is still the typical round brilliant-cut diamond with colour grades ranging mostly from colourless to near colourless. "I can see a growth in stones in unusual shapes such as pears, marquise and princess cut," says Francesco Natale, Geologist, Graduate Gemmologist, International Gemological Institute (IGI), Dubai.

Yellow and brown diamonds are also becoming more popular, partly due to the fact that a professional and international grading certificate usually accompanies these stones.

"Among the coloured stones the well-liked are the emeralds, rubies and sapphires. Fancy coloured sapphires in yellow, pink and orange and the use of tanzanite, a beautiful violet-blue hued gem, is also gaining popularity," says Natale.

But despite the growing demand for coloured stones, "a simple solitaire mounted on a plain gold or platinum band is still the most popular," says Pritam Mukhi, Resident Gemmologist, Arts and Gems.

Diamond Trading Company (DTC), the world's leading supplier of natural diamonds, recently launched Rayana, a new concept in opulent diamond jewellery design created specifically for women in the Middle East. The concept of Rayana is based on extensive consumer and design trend research that says Arab women want to emphasise the abundance of diamonds in their jewellery pieces. Therefore, Rayana sets contain more diamonds and less gold.

"The retail value of diamond sets sold in the Gulf has increased by more than $200 million since 2001. According to our research, diamond sets contribute to the highest value percentage - a 55 per cent value share of all diamond jewellery sales - and the sales of diamond jewellery sets has increased by 49 per cent in four years," says Jonathan Chippindale, Marketing Director, DTC Gulf Market.

Arab nationals spend about Dh7.3 billion on diamonds each year.

"The Middle East is one of the most critical markets for diamond jewellery. The Gulf is one of the largest consumer markets for DTC, besides the US, Japan, China, Italy and India. The diamond jewellery market in the Gulf has increased by almost half in the past four years," says Chippindale.

Jewellery is very important in the life of a national woman.

"Costume jewellery is becoming increasingly popular among national women because it is affordable, flexible and can be mixed and matched," says Sarah Rashid Belhasa, who uses a lot of Swarovski crystals, semi-precious stones, jade and sterling silver in her designs.

Costume jewellery

Costume jewellery to chunkier Boho casual ethnic jewellery and luxury lines of estate jewellery are all very popular this season.

"Although the most pronounced trend involves eclectic mixes of big and bold beads, bulky multi-strand chains, organic and natural materials and swinging earrings, I feel that chic minimalism is also making a comeback," says Belhasa.

Style statement

Beads covered in fabric or mixed with ribbons, strings, cords and fragments of metal chains and fringes and tassels are being used to make a style statement, while crocheted components are also getting a lot of attention.

"Simple and classic chain necklaces with a solitaire or a cluster of gemstones or crystals on the pendant are in, but should not be worn too long. Wide or stacked bangles with interesting finishes remain a trend as do charm bracelets and wearing a bunch of bracelets instead of one at a time, that adds colour, variety and emphasis. Enormous finger rings are still popular but in simple designs featuring big, faceted gemstones, wide bands of metal or beaded fringes and pompoms," says Belhasa.

In men's jewellery, celebrities are wearing chunky metal necklaces in silver, gunmetal or titanium or are incorporating leather, beads and even metal pendants in their neckpieces.

"Men's necklaces are getting longer this season and bracelets and cuffs are rough and masculine, with layers of leather cords, leather banding or shiny stainless steel," says Belhasa.

Next year the trend will sway towards large chunky over-the-top gold jewellery. Gold chains and large, cocktail rings with massive settings and chandelier drop earrings will remain a hot fashion trend.

"We expect gems set in gold, particularly garnets that bring out tones of one of the next season's hottest colour - red - to be fashionable," says Belhasa.