When should Dubai shoppers start buying gold again?

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Wednesday, October 28, 2020

Gold / Forex

When should Dubai shoppers start buying gold again?

Gold at $1,900 is still way too high for shoppers, more so with a pandemic on

Published: October 16, 2020 11:46 Manoj Nair, Business Editor and Devadasan K P, Picture Editor

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STOCK Dubai gold shopping — How low should gold fall before shoppers head back to gold and jewellery stores in the UAE? Because right now, with gold still hovering above $1,900 an ounce – and Dh225 for a gram of 22K at Dubai Gold Rate – they are not in any rush. Image Credit: Ahmed Ramzan/Gulf News

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Anil Dhanak of Kanz Jewels says that there are now 'To Let' signs showing up at the Gold Souq, which has never been the case through the last 30- or 40 years. There is a real concern that unless demand and tourists return to buying gold, it could get more dicey for retailers. And landlords too, by extension. Image Credit: Gulf News Archive

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Stock Gold Dubai jewellery — The shop windows at the Gold Souq are stacked with some of the most intricate jewellery designs... and quite a few straight-forward patterns too. All that they need now are shoppers to pick them up. Image Credit: Ahmed Ramzan/Gulf News

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