Dubai’s Gold Souk Suffers Lack of Demand

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Mouawad - Le Coeur Ring, 18K Rose Gold, Diamond Sunburst_$4,600Shopkeepers in Dubai’s Gold Souq say sales are declining because tourists from Saudi and Russia have less cash to spend. But experts reveal harsher reality and express opinions about even grimmer sales prospects during the upcoming summer months. It is highly unlikely investors to start accumulating physical gold any time soon.

What impact on the city’s economy has or it will have the slowing gold industry? Please share your thoughts in the comments section below.

Source: Oil slump empties Saudi wallets and Dubai’s gold souk – The Economic Times

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