Gold price softens but diamonds steal sparkle

Precious stone jewellery on offer at up to 75 per cent discount in Dubai

- BY MANOJ NAIR Business Editor

At Dh370.5 a gram yesterday, gold price (22 carats) in Dubai has edged down from the high of Dh374 recorded on July 1 but what sustains buyers' interest is the biggest summer promotions rolled out by UAE jewellery retailers in recent years.

Shoppers are being tempted with straight discounts of up to 75 per cent on diamond jewellery, as retailers target buyers looking to invest or simply expand their collection of bespoke designer pieces provided the price is right.

Retailers' strategy

As part of these promotions, jewellers are slashing prices on diamonds and precious stones. Sure, some items may be from older collections, but for shoppers, it's all about the bottom line.