Gold News

Jewelry demand 'high in Dubai'

Demand for gold in the Dubai jewelry sector remains high, despite fluctuations in prices for gold bullion.

This is according to officials at the sixth Dubai City of Gold Conference on Saturday (April 12th).

Sultan Bin Saeed Al Mansouri, United Arab Emirates minister of economy, said that gold trade in Dubai has increased by almost 30 per cent, which could be good news for investors in gold as demand continues to outstrip supply for the precious metal.

"Despite significant price increases, high demand and rising regional spending power will continue to sustain the strong and consistent performance of the gold and jewelry trade," he said.

Moaz Barakatthe of the World Gold Council added that gold's "enduring appeal" would see that the market continues to grow in the long term.

According to a report by GFMS, global mine production of gold fell to an 11-year low in 2007, while jewelry demand was up by five per cent.

Looking to Buy Gold today? For direct access to live Gold Market prices - and to save up to 80% compared with coin dealers' fees - click through to BullionVault now…


See all articles by Gold Bug here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn



Market Fundamentals