Wednesday, May 8, 2013

Gold shines for Dubai’s jewellery trade


Dubai’s gold trade been rising and increasing to an estimate of Dh 10 billion through wholesales and jewellery trading in April. 
After the constant buying and selling of gold , volumes of gold touch go from 2-2.5 tonnes a day against 1-1.5 tonnes a day ,volumes have settled down to normal levels in the past few days of May .

On Sunday jewellery closed at $1,470.75 . The director of international operations at Malabar Gold “Shamlal Ahmad” says gold is one commodity where a lower price is a corresponding surge in retail buying. “Conservative estimates place the overall volumes, both retail and wholesale, in April here at more than 50 tonnes — there is no shrinking in the appetite for the metal.” says Shamlal Ahmad.
Retailers raise concerns regarding the supplies that ease up and premiums for confirmed orders which have softened. Premiums touched $10 an ounce. As for the month of Akshaya Trithiya, jewelleries leave no strategy on how to attract customers to steal a purchase. Akshaya Trithiya is a month the second best volumes for the trade after the promotion phase during DSF .According to Paul Joy the executive director of Joyalukkas Group - Most of the people that purchase gold and jewellery during this month ,purchase them for auspicious reasons .

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