Gold Demand in Dubai
Dubai is one of the richest cities in the world. With its swanky malls and amazing skyscrapers, Dubai has managed to catch the fancy of people across the world. Dubai has a flourishing jewellery market. The residents of Dubai are one of the biggest consumers of gold jewellery in the world.
Many of you may not be aware that almost 25 tonnes of gold is on display in Dubai’s jewellery shop windows at any point of time. This overwhelming number clearly shows the demand of gold in Dubai. Almost two-third of people in Dubai purchase gold at least once a year.
Although most of the jewellery in Dubai is imported (around 90%), it has become an integral part of the culture of the city. Gold jewellery is associated with affluence and luxury all over the world and Dubai is no exception! When it comes to gifting, gold jewellery is one of the preferred choices of people in Dubai. Considering the current consumption rate, the demand for gold is all set to increase in Dubai in the coming years.