UAE gold demand soars despite record prices

Despite record-high gold prices, UAE gold shops are experiencing increased business with huge crowds and busy shops.

Experts attribute this surge in sales to the expectation of even higher prices in the future. The recent spike in gold prices, reaching $2,075 an ounce, has led to heightened demand as investors and consumers seek to capitalize on favorable market conditions.

Anticipating a potential correction, industry professionals predict a continued upward trend in gold prices. Tourist influx during this season is also contributing to high sales, with expectations of sustained demand and additional boosts during the upcoming Dubai Shopping Festival.

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