Dubai retailers worry over rising gold prices

Dubai retailers worry over rising gold prices
By Shakir Husain, Staff Reporter

Dubai: The emirate's gold industry fears consumer resistance to jewellery purchases if the precious metal crosses the $700 per ounce price threshold.

Dubai's jewellery sales volume last year was 108 tonnes and the industry is trying to achieve the same level this year amid anxiety over volatile gold prices, Dubai Gold and Jewellery Group (DGJG) vice-chairman Chandu Siroya said. [more]