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Dubai's gold sales register hike of 40% in January

23 Feb '07
1 min read
In January, sales of gold in Dubai increased by 40 percent compared to same period last year.

The growth is result of tourism and impressive performance of Dubai Shopping Festival.

First quarter sales of gold are anticipated to increase at 30 percent, sources informed.

However, gold sales in Abu Dhabi declined by 35 percent during the same period because of increasing demand.

Even gold sale in the region for the first quarter is expected to decrease by 50 percent.

Last year, demand for gold fell 9.9 percent in UAE, while, figure of fourth quarter rose 8.5 percent.

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