Even with slower trade during Ramadan, gold products sale in Dubai recorded year-on-year rise of around 16 percent in the month of September 2006.
Tawheed Abdullah, Director-General, Gold Jewellery Group, Dubai, had expected a significant growth in sales as the Eid Al Fitr approached considering it is the time for weddings.
"Seasonal yearly bridal gold sales make out 20 percent of the total annual gold sales of 450 tons in Dubai," Tawheed said.
Statistics confirm that Asian residents are major gold consumers and also show a growing demand for branded jewelry that offers profitable opportunity for international names.
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