Saturday, 4 Jul 2020
Jewellers expect boost in sales as gold price dips to one-year low

Jewellers anticipate increase in sales as gold value dips to a single-year low

Abdul Salam K P, group executive director, Malabar Gold and Diamonds, stated, “This is a great opportunity for customers to buy gold this summer season at a fantastic price.”

He stated that the group’s outlets across the city and in other components of the nation are witnessing a considerable improve in consumer footfalls in the previous couple of days. “Customers are increasingly buying gold, taking advantage of the recent dip in gold price and keeping the price movements in mind.”

Joy Xavier, branch manager, Kalyan Jewellers, Ruwi High Street stated, “We’re anticipating a substantial increase in business across our three Muscat branches in the evening. The general sentiment among gold buyers is obviously to buy when the price is low.”

Anto Ignatious, regional manager, Joy Allukas, stated that he believed that sharp improve in sales will occur when households return from their summer time holiday.

“I don’t believe the price will change much in the next few weeks. Most of our customers buying gold as an investment are from the sub-continent. So, the increase in sales will probably coincide with the opening of schools after the summer vacation.”

Information Source: Muscat Daily

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