Monday, 4th February 2008 (3650 views)

Jewellery worth a total of 2.4 million United Arab Emirates dirhams (AED) - equivalent to £330,609 - was sold during the first week of the Dubai Shopping Festival, with demand for gold pieces doing particularly well, an industry group has said.

The Dubai Gold and Jewellery Group (DGJG), which is one of the sponsors of the festival, said that despite the high price of gold on world markets, sales of jewellery had remained strong at the festival.

The DGJG has forecast that jewellery sales for the whole festival will top 1.2 billion AED, a 20 per cent increase on last year's event.

DGJG managing director Tawhid Abdullah said: "The increase in number of visitors and shoppers has definitely helped the jewellery trade. Though prices are high, they have not dampened sales."

Demand for 24 ct and 18 ct gold was particularly strong among customers from India and Arab nations, the group said.

Throughout this year's shopping festival, the DGJG has been continuing its tradition of giving away a kilo of gold in a daily raffle. Since the start of the Gold Raffle in 1996, the group has given over away 600 kilos.

 

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