|

Dubai jewelers affected by gold prices

ByVictoria

While U.S. tariffs and other factors have added fire to already hot demand for gold as an investment, the impact is different for gold jewellery, according to Andrew Naylor

“In markets like Dubai, this creates a two-fold effect: on one hand, you see stronger interest in gold as a safe-haven asset, on the other, high prices dampen jewellery demand.”

“There are no potential customers nowadays because of the gold prices,” said Fahad Khan, a sales representative at retailer Damas Jewellery.

“Higher gold prices are likely to dampen demand for jewellery, in a classic example of how the best cure for high prices is high prices,” said Russ Mould, investment director at AJ Bell.

Source – Reuters

Similar Posts

  • / /

    Discover Silver aims to grow production

    ByVictoria
    0 Comments

    Discovery Silver is making a significant move into the gold sector with its acquisition of the Porcupine mine in Ontario, Canada, from Newmont. The deal, discussed by CEO Tony Makuch in an interview at the 2025 BMO Global Metals Mining and Critical Minerals Conference, marks a shift for the company, which has been primarily known as a silver developer in Mexico.

    “The other part of value creation here is you take assets that are not Tier 1 assets at this point in time, and you convert them to Tier 1 assets,” he explained.

    Source – KITCO News

  • /

    Gold hits another record high

    ByVictoria
    0 Comments

    Spot gold was up 2.2% to $3,299.85 an ounce as of 1107 GMT, after hitting a record high of $3,317.90 earlier in the session. U.S. gold futures gained 2.3% to $3,315.80.

    “Trump’s trade war shows no signs of easing… sparking a fresh move towards safe havens and out of stocks,” said Ole Hansen, head of commodity strategy at Saxo Bank.

    Spot silver rose 2% to $32.94 an ounce, platinum was up 0.1% to $960.85, and palladium gained 0.6% to $977.09.

    Source – Reuters

  • /

    Gold prices on the rise to record highs

    ByVictoria
    0 Comments

    At the time of writing, the XAU/SD trades at $2,755 after bouncing off daily lows of $2,741

    The US Dollar Index (DXY), which measures the performance of the Greenback against a basket of six peers and usually correlates inversely to Gold, rises 0.08%, up at 108.16.

    Gold prices are set to challenge record high of $2,790 amid ongoing US trade policies uncertainty. 

    Source – FXSTREET

  • /

    Gold is edging closer to new record high

    ByVictoria
    0 Comments

    The yellow metal’s February futures contract climbed $13.90, or 0.5%, to finish at $2,778.90 an ounce on Comex Friday.

    “gold’s run to and past $3,000 is only held back by the strong U.S. dollar index,” said Peter Spina, president and founder of GoldSeek.com.

    Source – Market Watch

  • /

    Riversgold secures 80% stake in Kalgoorlie Gold Project

    ByVictoria
    0 Comments

    Riversgold Ltd has exercised its option to acquire an 80% interest in the Kalgoorlie Gold Project’s Northern Zone in Western Australia after meeting the required A$600,000 minimum exploration expenditure.

    Exploration efforts have identified a significant blind porphyry gold system, with widths of up to 600 metres and mineralisation extending beyond 400 metres in depth.

    Source – Proactive Investors