DUBAI, May 5: Abu Dhabi’s gold jewellery sales rose 10 per cent in volume and 20 per cent in value in April compared to the year-ago period on demand by foreign residents, the emirate’s Gold and Jewellery Group chairman said on Monday.
Expatriates, particularly from India, continued to buy gold jewellery as prices remained relatively low, the industry group’s Tushar Patni told Reuters.
We are also seeing more wealthy buyers compared to other markets in the UAE, he said in an interview. Abu Dhabi’s gold jewellery sales rose 10 per cent in volume and 25 per cent in value in March as the easing of prices from record highs spurred buying, Patni said.—Reuters
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