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Tuesday, 10th April 2007 (5503 views)

With the price that people are prepared to pay for gold jewellery on the rise in the UAE, sales in value terms will rocket, an expert from the World Gold Council (WGC) has said.

Managing director of the WGC Moaz Barakat believes that this year demand for gold jewellery would probably remain static on last year but could grow as much as 20 per cent in value terms.

Additionally, Alison Burns, Regional Head of Precious Metals, for Standard Bank, Middle East and North Africa told Gulf News that in her opinion, "the demand situation in the [UAE] region is fast improving".

She went on to state: "During the past six months there have been significant improvements in both consumption demand and investment demand for gold."

The fifth Dubai City of Gold Conference is set to go ahead from April 22nd to 23rd at the Park Hyatt where the emphasis will lie on jewellery firms and associated companies sharing their ideas on all facets of the industry.

 

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