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Dubai: It could be another year before gold and jewellery buying in the UAE returns anywhere close to pre-pandemic levels, according to senior industry sources, who cite the lack of Indian and Saudi visitors as the main reason. Since March 2020, demand for gold in Dubai’s Gold Souq and other jewellery shopping destinations in the UAE was primarily driven by resident shoppers. With COVID-19 still imposing limits on flights and road trips, buying remains subdued, with jewellery sales in the second quarter well below the five-year average, according to the latest numbers from London-based World Gold Council. Pre-COVID-19, tourist buying made up around 30-40 per cent of gold and jewellery sales in the UAE. Anil Dhanak of Kanz Jewels says the return of tourists from India and the Subcontinent will need time to rebuild, as well as of Saudi shoppers. “Their return will not happen overnight – vaccinations will need to do their bit to make flying a far easier experience than it is now

Saudi arabiaUnited arab emiratesGulf newsKrishan gopaulWorld gold councilImage creditGold souqLondon based world goldKanz jewelsAnil dhanakWorld goldSenior analystDubai gold rateசவுதி அரேபியாஒன்றுபட்டது அரபு அமீரகங்கள்வளைகுடா செய்தி