The iconic gold destination for all tourists and residents of the UAE, Dubai's Gold Souk in Deira, is expecting sales to pick up after opening it’s doors again to the public. The retailers within the souk are operating at reduced trading hours.
Some stores will be open from 11:00 to 21:00 and wholesale offices will be in business from 10:00 to 17:00.
Retail stores are only allowed to employ 30 percent of their workforce and accept 30 percent of their customer capacity to allow for proper social distancing etiquette. Masks, sanitizers and gloves will be made available to all staff and customers, in order to minimize the risk of spreading the virus. An extensive sterilization programme will continue at the souk and within individual stores, in order to continue to maintain a healthy and safe environment.
“It is a good step towards safely opening the economy, and as an industry we are all gearing up to meet the government’s expectations and consumer confidence,” said Tawhid Abdullah, chairman of The Dubai Gold & Jewellery Group, DGJG, adding “it is our collective effort aimed at successfully implementing the retail protocol mandated by Dubai Economy in a manner that is both safe and effective.”
According to DGJG, gold prices are up about 35 percent compared to this time last year.
"With the opening of the retail outlets, we expect gold jewellery demand to pick up as gold have proven to be a safer investment option in this market,” said DGJG treasurer Abdul Salam KP. “
Lead image courtesy of Jason Lloyd Evans/ SS '19 Oscar De La Renta