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Gold sales in Dubai recover
- United Arab Emirates: Monday, November 02 - 2009 at 12:03
Dubai's retail gold traders expect a faster recovery for the sector than in other Gulf countries, as an increased number of tourists and slightly more stable gold prices in October have boosted demand. 'After the Indian festival of Diwali we feel that demand has picked up again because the price of gold has gone down, and I think it is going to be stable,' M P Changappa, sales manager at Chammaur Jewellers told Reuters. Retail gold volume in the UAE had dropped 18% in the second quarter compared with the same period last year.
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StaffMonday, November 02 - 2009 at 12:03 UAE local time (GMT+4)
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