The price of gold is no more a major factor when UAE residents are buying jewellery, Dubai gold souq merchants told Emirates 24|7.<\/p>\n
\u201cThe gold rate does not have an effect on demand. People buy gold whenever they need it,\u201d says Ahmed Abdul Aziz, Manager of Tilesh Jewellery.<\/p>\n
\u201cNo one puts any effort into finding the rate of gold prior to visiting the gold shop,\u201d he pointed out.<\/p>\n
He added that his clients consist almost entirely of Emiratis.<\/p>\n
Atul Jewellery sales representative, Sanjith Thekkedh, agreed.<\/p>\n
He also said that the gold rate did not have much of an effect on their sales.<\/p>\n
\u201cThe rate was Dh147 per gramme before the Eid season and Dh150 during the season.<\/p>\n
\u201cAlthough our Eid sales had risen, the difference [increase] of Dh3 [per gramme] did not have an impact on that,\u201d he said.<\/p>\n
For example, on a sale of 10 grammes, the increase comes to just Dh30.<\/p>\n
Summer sales at Dubai\u2019s gold souq were down 25 per cent – as some merchants reported – but Eid Al Fitr helped bring some sparkle and shine to the market.<\/p>\n
Before and during Eid Al Fitr, higher demand led to significant sales, said Jenny Buabo, a Damas Jewellery sales representative.<\/p>\n
\u201cThis year\u2019s Eid sales rose by 15 per cent – while last year\u2019s sales showed around 32 per cent growth,\u201d Buabo said.<\/p>\n
Shanky Bansel, a Pure Gold Jewellery Sales Representative said their sales had also risen during the Eid season. His clients range from expats to citizens.<\/p>\n
For some gold souq merchants the Eid sales euphoria has lingered.<\/p>\n
Dharmendra Jewellery Sales Representative, Hatish Josh, said after the Eid season, there was a \u201cvery good\u201d sales growth of 5\u201310 per cent.<\/p>\n
He said the gold rate was higher this Eid season, and therefore the demand was low.<\/p>\n
He said. \u201c[But for us] the demand was surprisingly still better than last year\u2019s,\u201d Josh said.<\/p>\n
Manager of Tilesh Jewellery, Ahmed Abdul Aziz said: \u201cWe did much better this Eid season than this summer, when we saw a steep of decline of 25 per cent in sales.\u201d<\/p>\n
Compared to last year\u2019s Eid season, \u201cwe did slightly better on sales,\u201d he said.<\/p>\n
Generally, the gold rate in Dubai is around Dh150 per gramme. The selling price varies from Dh10\u201315 because of jewellery making charges.<\/p>\n
SOURCE: Emirates 24|7<\/p>\n","protected":false},"excerpt":{"rendered":"
The price of gold is no more a major factor when UAE residents are buying jewellery, Dubai gold souq merchants told Emirates 24|7. \u201cThe gold rate does not have an effect on demand. People buy gold whenever they need it,\u201d says Ahmed Abdul Aziz, Manager of Tilesh Jewellery. \u201cNo one puts any effort into finding […]<\/p>\n","protected":false},"author":3,"featured_media":436788,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[240,542,854],"class_list":["post-436787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-in-dubai","tag-dubai-gold-souq","tag-gold-rate-no-more-factor-to-buy-jewellery-in-dubai","tag-uae-gold"],"_links":{"self":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/posts\/436787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/comments?post=436787"}],"version-history":[{"count":0,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/posts\/436787\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/media\/436788"}],"wp:attachment":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/media?parent=436787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/categories?post=436787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/tags?post=436787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}