Swiss June gold exports fall to the lowest in more than two years
Gold prices hit a record high of $2,483.60 per ounce on Wednesday.
Indian-owned Pure Gold Jewellers is running a promotion. But no ordinary promotion would do for a store that operates in the United Arab Emirates, one of the wealthiest countries in the world.
So the jeweller is offering a little extra. Something that would dazzle even its wealthiest customers. Raffle draws give shoppers the chance to win one hundred gold bars, holiday packages and two Mercedes E-Series sedans – because one Mercedes just wouldn’t cut it.
One happy customer told Khaleej Times reporters that he had won three 24-carat bars when purchasing gifts for family. Another customer says he won three holiday vouchers while purchasing gifts for his son’s wife.
“I am so happy my wife insisted we buy our daughter-in-law a gift and we are thrilled to win the holiday vouchers,” he told reporters.
According to Khaleej Times, the company has seen a 15% rise in sales since June when promotions began. Demand was driven largely by Gulf countries during celebrations of the Muslim holiday Eid.
The store also ran a promotion on diamonds although Firoz Merchant, founder of the retail chain, said he expects diamond sales to stay at current levels, adding that gold jewellery should be up between 5 to 10% this year.
Merchant also speculated that the gold price would increase by up to 15% by the end of the year.
Pure Gold is not the only jeweller enjoying high sales over the summer. According to Gulf News, retailers reported sales of up to 20% higher than last year during the Iftar weekend.
