UAE gold and jewellery market to expand

The UAE gold and jewellery market is projected to expand by 25 per cent in sales this year even though the local price is expected to hit Dh80 per gram, up from the current Dh60.

Market experts have told Gulf News that local and regional demand is inclined to advance in the first quarter. At the same time, the global price is projected to touch $650 in the first half of 2006. It should be mentioned that Dubai is the world's sixth-largest gold consumer and a major gold trading hub.