Lower gold price may push up sales of jewellery
July 21 2018 10:16 PM
Gold jewellery
The average gold price of QR143.50 per gram has been the lowest for more than a year.

Doha

Bullion dealers in Doha are optimistic that lower gold price could boost the sales of the yellow metal.
Inquiries with jewellery shop owners found the present average rate of QR143.50 per gram has been the lowest for more than a year and is at least QR12 less than the price in the local market towards the end of last year. Last year, the price ranged between QR145 and QR157 per gram.
"While the price at the start of 2017 hovered in the region of QR145 per gram, it had soared to QR155 per gram towards the end of last year," said Noufal Thadathil, zonal head of Malabar Gold & Diamonds on Saturday.
The jeweller has no doubt that the prevailing rates would contribute to increased sales for the glittering metal in the coming days as more customers are expected to flock to jewellery shops.
The official also feels there has been a growing trend among ordinary expatriates across the region to spend more on gold these days as the price has worked to their advantage.
Expectations among the country's jewellers are that there would be more demand than usual for smaller ornaments in the coming days.
"Though a large number of expatriate families have travelled home, the presence of a considerably large population of 'singles' would help push up sales," said another jeweller.
This, he said, is because there has been a massive growth in the country's population in the last 10 years and there has been a spectacular rise in the number of branded jewellery showrooms in the last six years.



There are no comments.

LEAVE A COMMENT Your email address will not be published. Required fields are marked*
MORE NEWS
Trio held for burglary date8/16/2018 9:26:40 PM