2023-04-23 07:00:00
Dubai Gold Group: 4,000 jewelry companies operate in the emirate
The Chairman of the Board of Directors of the Dubai Gold and Jewelery Group, Tawheed Abdullah, said that Dubai accounts for 14% of the total global gold exports.
He added that more than 4,000 jewelry companies operate in the emirate in the activities of wholesale jewelry trade, precious metals and precious stones, jewelry manufactures and retail trade, in addition to exporters and importers.
He explained that there are more than 1,200 gold retail stores in Dubai, pointing out that, according to recent estimates, there are 60,000 people working in this industry in the country, which reflected positively on the markets, and increased the activity of tourists and visitors in the local markets, quoting Al-Bayan newspaper. “.
Tawheed Abdullah pointed out that although the high interest rates on the US dollar constitute a negative factor, the tendency of most central banks to buy gold and make it a reserve contributes significantly to the increase in global gold prices during the current year.
He said that global gold prices are affected by several geopolitical factors, but gold is expected to perform well in the coming months, expecting its prices to range between $1,850 and $2,150 per ounce during 2023.
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