Tuesday, 26 Jan 2021
Gold prices fell to a more than six-month low on Tuesday as the dollar strengthened, leading to an increased footfall at jewellery outlets across the city.

Customers flock to jewellery retailers as gold falls to all-time low of six months

Najeeb K, regional head of Malabar Gold and Diamonds stated,“The dip in the gold rate will definitely encourage more customers to come back to the stores. We expect customers to make full use of it as school holidays are going on. This is a golden opportunity for customers. We are witnessing a significant increase in footfalls in the past few days as customers are increasingly buying gold, taking advantage of the recent dip in gold prices and keeping the price movements in mind. We saw this kind of fall last December.”

Jaya Chandrashekhar, a homemaker stated this is the excellent time as she is travelling quickly. “I will be going to India for my sister-in-law’s wedding next week. I can buy her a gift now.”

Another expatriate, Purnima T V, a private sector employee as well seemed satisfied with the fall in costs. “I read it online while browsing the Internet. I plan to go and buy some stuff with my husband in the evening.”

Some clients are not bothered that they could run quick of cash.

“Even even though it is the fag finish of the month and I do not have adequate cash left in my account, I nonetheless went to 1 jewellery shop and picked up a finger ring for my sister.

“I will gift it to her on her birthday, which is in August,” stated Sudipa Gupta, a resident of Muscat,” adding, “I did not want to miss this opportunity.”

The gold prices as of Tuesday evening stood at RO15.45 for 22K, RO13.7 for 21K, RO11.7 for 18K and RO16.050 for 24K.

Information Source: Muscat Daily

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