Fluctuating Jewellery Market

Customers around 180 nationalities, expatriates and tourists have Dubai as their first choice for Jewellery needs. The jewelries in Dubai have been imported from around 30 countries. Every variant of Gold is available from 18K to 24K, to satisfy customers from every region in the world. It becomes the main need for players in this market to absorb the global trends quickly and understanding the fluctuations.

Dubai slowly and strongly became the world’s largest diamond jewellery hub thanks to its strategic location. It is not due to the single person’s effort but by the Collective effort by jewelers across the United Arab Emirates (UAE), and by various government bodies and statutory agencies, have ensured that this business booms in the UAE, particularly in Dubai.

The fate of Dubai’s jewellery market took a dramatic change in the 1980s and 1990s.Gold Jewellery had been majestic at that time. It is hard to find any Diamond Jewellery in Dubai. Demand for Diamond Consumers has been raised only by the strategic marketing thanks to the effort of diamond trading companies. Jewellery retailers began to display and sell diamond jewellery like never before — and diamond jewellery offered them bigger margins than gold jewellery.

The feature that attracted the tourists most is that the jewellery in Dubai sells as much as 50-60 per cent cheaper than in their home countries Local jewelers responds quickly to varying patterns in the UAE’s tourist and expat populations. Russians, for example, can sample collections of 14ct and 18ct diamond-studded jewellery. Jewellery retail in the UAE keeps on expanding, and more and more retail growth is projected as more household investors turn to gold and jewellery.

Reasonable gold prices for the past several months brought the rising demand for Gold Jewellery in Dubai. Largest Indian Expat population has been the target for Jewellery Stores in Dubai because of their high appetite for Jewels. Buying happens on a large scale, especially during the Dubai Shopping Festival. Retailers expect substantial growth in the sector in coming years.

But it is not an easy thing. The fluctuating prices in the market have been a challenge always and prices have shown greater-than-normal fluctuation since 2011. We experience an all-time high of $1,884.4 per ounce and a low of $1,162 per ounce in 2014. Performance of Jewellery Sectors were getting affected by such volatility

Other factors like  regional wars, crude oil prices, currency valuations, and so on, all of affect this industry Besides this challenges include Higher inventory holding costs, more and more jewelers competing for a limited market, overly frequent jewellery exhibitions, ever-changing consumer preferences and sensibilities, the constant need for new designs, customer retention.

Dubai: The Number One Destination for Diamond Jewellery

Jewellery Industry is one of the top contributors of the UAE economy and Dubai is world-renowned for being the jewellery hub of the Middle East. Dubai is a tax-free haven and is the world’s largest market for gold, diamond and gemstones.

UAE ranks as the highest jewellery consuming nation in the world, but what sends tourists on a shopping spree is that jewellery in Dubai, is almost 50-60% cheaper than in their own countries! With some of the best master craftsmen in the world and some of the world-class leading brands of jewellery in Dubai offers you the best purity in gold and craftsmanship. Jewellery is also imported from more than 30 countries to cater to the various needs of customers who have different requirements from 18K to 24K. Since Dubai is quick to adapt to changes and jewellery sales are quite a lot, you will always find the best and the latest collection of designs that follow global trends. Dubai shopping festivals give an even more powerful boost to the retail gold market and jewellery industry. The World Trade survey ranks Dubai as the second largest exporter of gold jewellery in the world.

Dubai Gold Souk or Gold Souk is a traditional Gold market in Dubai comprising of over 300 retailers selling everything and exclusively only in jewellery. Tourists haven’t really seen Dubai if they give this place a miss. At any given point of time, ten tons or more of gold is present in this gold market collectively. Although offering cheap but the best quality gold, retails stores in the Souk also offer Platinum jewellery and occasionally silver too. You can be assured of genuine purchases as the government keeps tight control over the quality of all merchandise. You will be charged as per the latest prices in the world market and according to weight of the gold, but workmanship charges vary. A great thing about buying jewellery in Dubai is that these souks do not have fixed charges for workmanship and if you bargain well you may get a reasonable discount.

The Gold & Diamond Park located close to the First Gulf Bank Metro Station is another fantastic place to buy jewellery in Dubai. To be on the safer side, it would be in the best interest of buyers to be wary of people selling gold jewellery on the pavements as it is most likely to be fake.

Diamond Jewellery: A Memorable and Impressive Gift

The lustre of diamond jewellery is unmistakable and never goes unnoticed at a party, event or occasion! Formed at depths of 90-240 miles below the earth’s crust, diamonds take billions of year to form under heat and pressure. Diamond is the hardest substance on the earth so it isn’t so surprising why the term ‘diamonds are forever’ was coined. Yes, diamonds last forever and have come to represent eternal love.

The Romans used diamond rings as a symbol of their commitment during ancient history. Diamond rings were specifically worn on the left hand on the third finger because it was their belief that the vein from this finger goes right up to the heart. Large diamonds were so rare that they were only associated with the rich, upper class or royalty.

In fact, diamonds are still so rare that one-carat good quality stone could need the processing of 250 tons of ore from a mine. Nearly 80% of diamonds extracted from ores are industrial variety and not suitable for jewellery.

Diamond jewellery is the first choice of gift for wedding, engagement, or anniversaries! When you gift a piece of diamond jewellery, you know you are gifting something incredibly precious created by nature over billions of years. Although having immense monetary value, diamonds together with their rich history, long-lasting qualities, brilliance and lustre do make for an outstanding gift.

The jewellers with the help of experimentation on various cuts and styles, new cutting techniques and modern jewellery making tools now offer the best in diamond jewellery. You are spoilt for choice with the many designs available because diamond jewellery today has a greater quality of visual appeal, sparkle and presentation.

The first visible factor for any diamond is its size and is priced accordingly. The next is the colour as usually diamonds are completely colourless, but sometimes they come in all shades like pink, blue, yellow, brown, etc. The cut gives the diamond its intensity and brilliance and the one that has a great quality finish, symmetry, polish and proportion are really pricey. To put it simply as experts say, the four C’s of a diamond are very important colour, cut, clarity and carat.

Crafting diamond jewellery is a complex and skilful task and a master craftsman needs years of training and practice to perfect it. Dating back to thousands of year, today diamond jewellery is created by master craftsmen with the latest techniques and technologies and set in different precious metals like platinum and gold. Platinum is now the first choice as like the diamonds, it is a very hard and durable metal.

When you are about to purchase diamond jewellery it would be best if you did your research ahead of time. Occasions are time for celebrations and everybody is curious regarding the gift as it depends on how spectacular your occasion is. If you truly wish to make a grand impression with your gift, there could be nothing better than diamond jewellery.

If there isn’t any upcoming occasion, there is no need to wait for one! With diamonds, sometimes the gift itself becomes a special cause for celebration. For example, you can gift your wife a diamond ring to express how special she is. The gift could also be for your mom’s birthday showing her the appreciation for all her efforts. Diamond jewellery surely makes for a memorable, exciting and impressive gift for just about anyone!