Indians living in Dubai and hailing from South India, appear to be clearing up most of the gold bars and coins in jewellery outlets across Dubai.
by Shivom Seth, MineWeb.com
The desire to own gold, as an investment and for jewellery purposes, has made itself felt in the physical market in India and in Dubai, where premiums are ruling at an all time high.
To cash in on the investor frenzy, gold dealers in Dubai have raised their premiums to 750%, given the prevailing uncertainties over the global economy.
Renowned for its role as the best place in the world to buy gold, Dubai has had an impromptu gold festival under way. The Dubai market is dominated by Indians.
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