The long and steady rally in gold prices has encouraged consumers to buy into the yellow metal in a big way despite prices hovering near $1,900 an ounce currently.
Though the gold price is already up more than 30 per cent this year, there is a group of experts who are of the opinion that price may breach the $2,500 level by the end of this year, prompting more buyers to take the safe investment route.

The upcoming edition of the MidEast Watch & Jewellery Show is set to benefit from this gold rush as demand for jewellery as well as gold bars and coins reach its peak ahead of the 
festive season.

“Demand for gold has been steady in the region and Eid holidays have set the tempo for buying gold among residents. This will peak with the 31st edition of the MidEast Watch & Jewellery Show, which will be the ultimate platform for both investors and general buyers to check out the latest designs in gold and diamond jewellery as well as different investment options,” said Saif Mohammed Al Midfa, Director-General of Expo Centre Sharjah.

About 85 per cent of the exhibition space for the MidEast Watch & Jewellery Show was already sold during the 30th edition of the fair in April this year. Robust sales prospects due to the strong appetite from nationals and expatriates from the region and the Indian subcontinent have driven more exhibitors to book their space early enough, making it one of Expo Centre’s most 
successful shows.
Antonella from Fabiofanfani, which will be exhibiting as part of the Italian Pavilion, said, “The visitor turnout at the last show was pretty good.We had good sales on all five days of the show. We are looking forward to having a successful participation in the 31st edition of the show too with steadying prices and gold continuing as the best available safe investment option.”

© Khaleej Times 2011