Latest news with #AnuraagSinha
Khaleej Times
06-02-2025
- Business
- Khaleej Times
Some UAE shoppers delay gold jewellery purchases amid sky-high prices: Experts - News
KT Photo: File Some UAE shoppers have put their gold and jewellery purchases on hold as yellow metal prices reach an all-time high in Dubai and across the world, industry experts have said. The precious metal hit a record high of $2,882.16 per ounce earlier this week. In line with global rates, all the variants of the yellow metal also reached an all-time high in Dubai — with 24K and 22K trading at Dh345.75 and Dh321.50 per gram on Thursday morning, respectively. Stay up to date with the latest news. Follow KT on WhatsApp Channels. Anuraag Sinha, managing director of Liali Jewellery, said gold shoppers were indeed adopting a wait-and-watch approach due to record-high prices, delaying their purchases in anticipation of potential price drops. 'However, we focus on diamonds, so this trend does not apply to our customers. Diamond-buyers tend to make decisions based on their love for the product rather than price fluctuations,' added Sinha. Anuraag Sinha 'Some customers may be adopting a wait-and-watch approach, monitoring price trends before committing to a purchase. However, a significant portion still perceives gold as a timeless asset, investing in it for special occasions and long-term value, despite the price volatility,' said John Paul Alukkas, managing director of Joyalukkas Group. Shamlal Ahamed, managing director of international operations at Malabar Gold and Diamonds, said shoppers in the UAE have the option to choose from an array of designs curated from all over the world. 'Therefore, it is safe to assume that gold rate hikes do not affect the buying behaviour of tourist customers. However, this may vary for residents as they have the luxury to opt for a wait-and-watch approach during a gold price hike,' he said. Shamlal Ahamed Anil Dhanak, managing director of Kanz Jewels, agreed, too, saying some customers are delaying their purchases, hoping for a price correction. In the UAE, he added, festivals, weddings, and gifting occasions continue to drive demand. 'Instead of postponing indefinitely, customers are adjusting their budgets and choosing designs that offer better value without compromising aesthetics.' Anil Dhanak Chirag Vora, managing director of Bafleh Jewellers, said minor fluctuations in gold prices don't make a big difference for retail buyers as they usually purchase in small quantities. 'Historically, gold prices have always risen in the long run, making it the right time to invest in gold jewellery. Special occasions like weddings and festivals continue to drive steady demand,' he added. Chirag Vora Ahamed said that even though gold prices have been on an upward slope for the past few weeks, customer footfall and subsequent sales across the UAE have remained unaffected due to yellow metal's status as a value-appreciating consumable investment. 'However, another pattern that we have noticed across our showrooms amidst the high prices is a shifting preference of buyers towards lightweight jewellery as opposed to heavier pieces.' In addition to price fluctuations, Alukkas elaborated that sales trends are influenced by consumer sentiment and seasonal demand. 'While some buyers may delay their purchases when prices rise, others continue to see gold as a reliable long-term investment. Despite higher prices, gold remains a valuable asset for many customers and we continue to see strong interest in our collections.' ALSO READ: Dubai: Gold prices hit new all-time high, continue to set records Gold soars amid trade war tensions; oil market remains stable Waheed Abbas is Assistant Editor, covering real estate, aviation and other business stories that directly affect the lives of UAE consumers. He frequently reports human interest stories, too. waheedabbas@
Khaleej Times
06-02-2025
- Business
- Khaleej Times
Some UAE shoppers delay gold jewellery purchases amid sky-high prices: Experts
Some UAE shoppers have put their gold and jewellery purchases on hold as yellow metal prices reach an all-time high in Dubai and across the world, industry experts have said. The precious metal hit a record high of $2,882.16 per ounce earlier this week. In line with global rates, all the variants of the yellow metal also reached an all-time high in Dubai — with 24K and 22K trading at Dh345.75 and Dh321.50 per gram on Thursday morning, respectively. Stay up to date with the latest news. Follow KT on WhatsApp Channels. Anuraag Sinha, managing director of Liali Jewellery, said gold shoppers were indeed adopting a wait-and-watch approach due to record-high prices, delaying their purchases in anticipation of potential price drops. 'However, we focus on diamonds, so this trend does not apply to our customers. Diamond-buyers tend to make decisions based on their love for the product rather than price fluctuations,' added Sinha. 'Some customers may be adopting a wait-and-watch approach, monitoring price trends before committing to a purchase. However, a significant portion still perceives gold as a timeless asset, investing in it for special occasions and long-term value, despite the price volatility,' said John Paul Alukkas, managing director of Joyalukkas Group. Shamlal Ahamed, managing director of international operations at Malabar Gold and Diamonds, said shoppers in the UAE have the option to choose from an array of designs curated from all over the world. 'Therefore, it is safe to assume that gold rate hikes do not affect the buying behaviour of tourist customers. However, this may vary for residents as they have the luxury to opt for a wait-and-watch approach during a gold price hike,' he said. Anil Dhanak, managing director of Kanz Jewels, agreed, too, saying some customers are delaying their purchases, hoping for a price correction. In the UAE, he added, festivals, weddings, and gifting occasions continue to drive demand. 'Instead of postponing indefinitely, customers are adjusting their budgets and choosing designs that offer better value without compromising aesthetics.' Chirag Vora, managing director of Bafleh Jewellers, said minor fluctuations in gold prices don't make a big difference for retail buyers as they usually purchase in small quantities. 'Historically, gold prices have always risen in the long run, making it the right time to invest in gold jewellery. Special occasions like weddings and festivals continue to drive steady demand,' he added. Gold maintains appeal Shamlal Ahamed said that even though gold prices have been on an upward slope for the past few weeks, customer footfall and subsequent sales across the UAE have remained unaffected due to yellow metal's status as a value-appreciating consumable investment. 'However, another pattern that we have noticed across our showrooms amidst the high prices is a shifting preference of buyers towards lightweight jewellery as opposed to heavier pieces.' In addition to price fluctuations, Alukkas elaborated that sales trends are influenced by consumer sentiment and seasonal demand. 'While some buyers may delay their purchases when prices rise, others continue to see gold as a reliable long-term investment. Despite higher prices, gold remains a valuable asset for many customers and we continue to see strong interest in our collections.'
Mid East Info
04-02-2025
- Entertainment
- Mid East Info
Liali Jewellery Introduces Artistically Intelligent (AI) Valentine's Pendant – A Gift Like No Other - Middle East Business News and Information
Liali Jewellery, a distinguished name in fine jewellery, is delighted to introduce its much-anticipated Valentine's Day Gift Collection for 2025. This year's collection is a tribute to love, passion, and artistry, with the highlight being the groundbreaking 'Double the Love' concept—an innovative, customizable pendant that redefines personal expression through jewellery. Double the Love – A Gift as Unique as Your Love At the core of this year's collection is the interchangeable hearts pendant, a design that embodies both versatility and sentimentality. Crafted with precision and elegance, this pendant allows wearers to select two heart inserts from a vibrant palette of colors and materials, including malachite green, pearlescent white, passion red, and midnight black. Set in luxurious 18K rose gold and adorned with dazzling diamonds, this exquisite piece offers a timeless yet contemporary way to celebrate love in all its shades. 'At Liali Jewellery, we believe that love is as unique as the individuals who share it. Our 'Double the Love' pendant is a celebration of this uniqueness, offering a customizable expression of affection, elegance, and artistry. This Valentine's Day, we invite our customers to create a piece that speaks to their hearts in the most personal way.' Said Anuraag Sinha, Managing Director, Liali Jewellery A Collection of Vibrancy and Elegance Beyond the interchangeable pendant, Liali's Valentine's Day collection showcases a breathtaking array of jewellery, each piece meticulously designed to capture the essence of romance: Vibrant Ceramic Pendants: Available in striking hues such as turquoise blue, ruby red, and emerald, green, these pieces add a playful yet sophisticated charm to any ensemble. • Diamond Elegance: Classic luxury is reimagined with stunning white gold diamond-studded rings, earrings, and pendants, perfect for those who appreciate timeless beauty. • Personalized Pieces: Key pendants with dancing diamonds and engravable heart-shaped charms offer an intimate and bespoke gifting experience. Ethically Sourced Jewellery for a Meaningful Gift Liali Jewellery remains steadfast in its commitment to sustainability and ethical sourcing. Each piece in this collection is responsibly crafted, ensuring that customers can express their love while making a positive impact on the world. By choosing Liali, customers invest in jewellery that is both beautiful and ethically produced. The Valentine's Day collection reaffirms the brand's mission to create pieces that mark life's most cherished moments with sophistication and style. The Valentine's Day Gift Collection is now available at all Liali Jewellery boutiques across the UAE and online at The Double the Love pendant is available for AED 1,990.
