Gold and jewellery sales during DSF to increase by 15%- UAE

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(MENAFN) According to a report issued by the Dubai Gold and Jewellery Group (DGJG), gold and jewellery sales during DSF 2006-07 is expected to reach Dh920 million - a 15 per cent increase to its initial estimate of Dh800 million, Gulf News reported.

The report said that the initial projected target of Dh800 million sales during the DSF to be addied by 15 per cent growth by the end of the shopping festival.

During the 13 day DSF in 2005 which coincided with Christmas, Eid and New Year, turnover from participating jewellery outlets stood at Dh279 million. Comparatively, during the first 13 days of the current DSF, the total turnover was Dh440 million.

An expert said that the main attraction is the price, as it has fallen from $730 in May, its highest since a record peak above $800 in 1980, to $610. The main buyers are the Indians followed by Pakistanis and Bangladeshis.

Since the begining of the DSF ten years ago, The DGJG alone has given away 619 kg of gold as prizes, worth Dh146 million.

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