Monday, 15th January 2007 (3610 views)

Sales of gold and gold jewellery are surging at this year's Dubai Shopping Festival (DSF), with the first 13 days having already produced turnover of some Dh440 million (£61 million) according to the Dubai Gold and Jewellery Group (DGJG).

Indeed, the organisation expects gold and gold jewellery sales to hit Dh920 million by the end of the 45-day event, some 15 per cent higher than its original estimate of Dh800 million.

This is thanks to the current low price of gold and the attractive special offers that are only available at the DSF. They include new jewellery designs and a daily giveaway of one kilo of gold.

"Dubai holds a strategic position when it comes to gold and jewellery and DSF is the most crucial time for sales, be it trading or manufacturing," said Tawhid Abdullah, managing director of the DGJG.

He added: "Sales are exceeding our expectations during this DSF. Considering a year on year growth of 70 per cent reported by 350 participating member outlets, we expect to cross our initial projected target of Dh800 million sales by an additional 15 per cent by the end of the shopping festival."

The Dubai Shopping Festival 2006-2007 kicked off on December 20th 2006 and will run until February 1st 2007.

 

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