After almost a year of lockdown and strictly restrictions due to the pandemic of COVID-19, the UAE gold jewellery demand has recovered. According to the World’s Gold council, the Q116 of this year in UAE has witnessed an increased demand on gold jewellery of XNUMX% compared to the same period last year.
Many reasons affected this demand, mainly the improvement in the tourism sector. Tourists’ number visiting the UAE has been increasing, especially from India. The reopening of the airports, international flights and the successful vaccination programs helped gain the customers’ trust.
UAE is among the most liable government that managed to contain the pandemic, and this is one of the main reasons that drive tourists to choose it as their most safe place to travel in.
The demand for gold & jewellery will continue to grow till the end of the year, especially with DSF (Dubai Shopping Festival) and Dubai Expo2020, which will invite more visitors to the city. Since the Expo started around two months ago, over a million visitors have visited Dubai.
Dubai has a good reputation for selling one of the purest gold in the world. The gold prices in Dubai have considered one of the lowest prices, and the diversity of gold jewellery there is amazing. Being a global market where many brands of gold shops selling their exquisite designs make it indeed the best place to buy gold.
Many gold shops in Dubai offer unique jewellery designs in gold, diamond, pearls and other precious metals and gemstones. One of the prestigious gold shops in the UAE is Al Romaizan for gold & jewellery. A KSA hub-based jewellery shop with wide coverage and several shops in UAE, Oman and Qatar.
Al Romaizan UAE has over 50 gold shops in almost all UAE emirates. They locally design and produce around 70% of their products of fine gold, diamond, & pearl jewellery. Around two years ago, they have started an online store allowing non-GCC residents to buy gold jewellery at any time.
With this improvement and increase of gold demand in the UAE and almost all of the Middle East, it is more likely to continue at the same pace for the coming year. This will encourage the large gold shops and companies, such as Al Romaizan, to keep providing the finest jewellery at the best prices.