Gold sales glitter during Ramadan, Eid

Sales of gold jewellery received a considerable boost during the holy month of Ramadan and Eid al-Fitr holiday as a good number of GCC, Arab and foreign tourists were keen to spend on such items while in Qatar.Salespersons at the gold market told local Arabic daily Arrayah that many tourists prefer to buy gold jewellery items from Qatar due to the diversity of designs, with many Qatar-produced items focusing on the local tastes and preferences and involving low labour charges.They pointed out that around 40% to 70% of the items on display in some shops at the gold market are locally made at the manufacturing facilities opened over the last five years. They said this give an advantage of locally produced items over ones imported from different sources, especially as there is no value-added tax on gold in Qatar.Mohamed Abdulla, one of them, said during the holy month of Ramadan and the Eid holiday, the gold market was one of the most-frequented places for tourists, Qataris and residents of the country, and many of them made good purchases during that period.He noted that salespersons in Qatar prefer to display locally made jewellery due to the low labour charges and designs that appeal to Qataris and GCC tourists, factors that help increase their demand.Mohamed Sulaiman said GCC tourists are considered the highest spenders when it comes to buying gold in Qatar, as compared to other tourists. He noted that considerably low labour charges on locally made models were a big incentive for gold buyers to buy more.Mohsen al-Yafeai said most shops at the gold market were keen to display locally made designs, especially during Ramadan and the Eid, because many of them expected a good turnout of customers and that is what actually happened.He said sellers at the market have gained a lot of experience regarding the choices of different customers, which enables them to supply the designs and items that are in high demand at different times.Abdulrahman Saleem said many GCC customers prefer to buy gold jewellery from Qatar due to the relatively lower prices compared to other places because no value-added tax is added to the final bill. He noted that the average GCC customer spends around QR5,000-QR20,000 on gold during the holiday period, adding that they often prefer traditional local designs over others.