Gold Demand To Peak Ahead Of Festive Season

Sept. 20, 2011 - PRLog -- PRESS RELEASE
GOLD DEMAND TO PEAK AHEAD OF FESTIVE SEASON
MIDEAST WATCH & JEWELLERY SHOW TO BE HELD FROM OCT 4-8 AT EXPO CENTRE SHARJAH
SHARJAH
The long and steady rally in gold prices has encouraged consumers to buy into the yellow metal in a big way despite prices hovering near US$ 1,900 an ounce currently.
Though the gold price is already up more than 30 per cent this year, there is a group of experts who are of the opinion that price may breach the US$2,500 level by the end of this year, prompting more buyers to take the safe investment route.
The upcoming edition of the MidEast Watch & Jewellery Show is set to benefit from this gold rush as demand for jewellery as well as gold bars and coins reach its peak ahead of the festive season.
“Demand for gold has been steady in the region and Eid holidays have set the tempo for buying gold among residents. This will peak with the 31st edition of the MidEast Watch & Jewellery Show, which will be the ultimate platform for both investors and general buyers to check out the latest designs in gold and diamond jewellery as well as different investment options,” said Mr Saif Mohammed Al Midfa, Director-General of Expo Centre Sharjah.
About 85 per cent of the exhibition space for the MidEast Watch & Jewellery Show was already sold during the 30th edition of the fair in April this year. Robust sales prospects due to the strong appetite from nationals and expatriates from the region and the Indian subcontinent have driven more exhibitors to book their space early enough, making it one of Expo Centre’s most successful shows.
Antonella from Fabiofanfani, which will be exhibiting as part of the Italian Pavilion, said, “The visitor turnout at the last show was pretty good.We had good sales on all five days of the show. We are looking forward to having a successful participation in the 31st edition of the show too with steadying prices and gold continuing as the best available safe investment option.”
Another participant at the previous show, Kapil Jain of Thailand-based Suraj Diamonds, wholesalers of diamond jewellery with offices in Bangkok, Dubai and New York, also vouch for the popularity of the show. He said, “We had excellent orders from the show and are very happy with the participation. The sales exceeded our expectations. This augurs well for the autumn edition of the show. We expect all those who are interested in gold in large numbers at the show right from general buyers to the fashion conscious and investors.”
The entire complex of Expo Centre Sharjah of around 20,000 sq.m. will host more than 450 exhibitors from across the world during the five-day show from October 4 to 8, 2011.It will be open daily from 11 am to 10 pm. except on Friday when it will be open from 4 pm to 10pm. Special ladies timings on 5th and 8th October from 11 am to 4pm.
Displays at the show will include diamonds, precious stones, loose pearls, gold and diamond jewellery, diamond and pearl sets, and watches.
Among the countries from which a majority of the individual exhibitors have confirmed participation are Bahrain, Brazil, China, France, Hong Kong, India, Italy, Iran, Japan, Jordan, Lebanon, Lithuania, Malaysia, Pakistan, Russia, Saudi Arabia, Spain, Singapore, Thailand, Turkey, the US and the UAE.
“It is difficult to find such a vast collection of gold and diamond jewellery under a single roof other than the MidEast Watch & Jewellery Show. Besides, there is no better place with the right ambiance and festive spirit for seasonal purchases,” said Mr Al Midfa.
Connoisseurs of gold and diamond jewellery can expect delicate designs, openwork and texture and customizable designs, ranging from the young and fun to the rich and classic at the show.
New participants at the show will include Jumbo Goldsmiths from Bahrain; Focus Jewellery, Fine & Rhine, Karp Jewellery from China; Adi Diamonds, Nathumal Jewellery and Yunysha from India; Design MoROVA, Capriotti Mario Eredi and Fratelli Chilleri from Italy; Apple Green Jewellery from Japan; Butterfly Jewellery, Matrix 3D Design and Mucca from Lebanon; Amber Sea of Gold from Lithuania; Turnmatic from Singapore; Vega Intertrade & Exhibitions from Thailand; and Meira T Designs from the US.
From the UAE, new exhibitors include Ahmad Kurdi Jewellery, Al Kananah, DN Diamonds, Fancy Rose Jewellery, Gemme Couture, Ismael Jewellery, Jimmy Handbags, Sultan Jewellery and Toujours Jewellery.
The centre of attraction at the show is set to be the national pavilions from Hong Kong-China, India, Italy, Malaysia, Thailand and Singapore.
“All these countries are prominent names in the gold and jewellery field and are known all over the world for their exquisite craftsmanship and traditional creations. At the show, visitors will be spoilt for choice from the diverse range of designs and collections from these countries,” added Mr Al Midfa.
Hong Kong will have the largest presence at the pavilion with 51 exhibitors, while it will be followed by India with 38 exhibitors, Lebanon with 25, Singapore and Malaysia with 12 and Thailand with 8 exhibitors.
Attractions at the show include fabulous prizes. On every purchase of Dhs500, visitors will have a chance to qualify for a daily raffle draw to win fabulous prizes. The Hong Kong Pavilion will also be giving away prizes to visitors.
The exhibition is organised by Expo Centre Sharjah with the support of the World Gold Council and the Sharjah Chamber of Commerce and Industry.
Ends
For more information, please contact:
P. Ravi
Manager (Exhibition Services), Expo Centre Sharjah
Tel: 06-5991177. Mobile: 050-6269781 Email: p-ravi@expo-centre.ae