Major deals in precious stones likely during pilgrimage

Dubai: The Haj season is expected to witness major deals in precious and gemstones between Saudi merchants and sellers, who come from different countries around the globe, according to sources in the field of precious stones.

Arabic language Al Sharq Al Awsat newspaper quoted Yousuf Hamad Al Masari, a Saudi gems merchant, as saying the expected deals are estimated at 75 million Saudi riyals (Dh73.44 million)

Al Masari added that pilgrims from India had specialised in trading different kinds of diamonds, with prices ranging between 130 Saudi riyals to 560 Saudi riyals per carat. Indian pilgrims also seek to trade in emeralds.

At the same time, pilgrims from Sri Lanka bring different types of precious gemstones, such as rubies, sapphires and Alexandrites, where the price of one carat might go up to 5,000 Saudi riyals.

As for merchant pilgrims from Russia, they arrive with different types and kinds of amber, including the one that has an insect in it, where the price of prayer beads would reach 1,500 Saudi riyals.

Iranian turquoise, cut in different shapes, are usually also present during the Haj season, Al Masari noted.

Hundreds of years ago and before the invention of aeroplanes, pilgrims used to travel to Makkah for Haj by land.

The trip would take months and the Muslims would make use of the trip and halts in different places on the way to Saudi Arabia and back home by selling products they were carrying, such as silk, handicrafts, carpets, gems and precious stones. They do so even today.

Over the centuries, and throughout the years, modern technology and inventions have facilitated the proceedings of Haj, but have not touched some aspects related to the Haj season, particulary those related to ways of making it a way of living, as well as worshipping. Performing Haj is one of the five pillars of Islam and is a duty of all Muslims, which they are expected to do once in their lifetime.

There are those who can afford it and they compete in providing pilgrims with water and food for free. There are merchants in Makkah who record high rate of trade, as pilgrims buy presents to take back home.