UAE Consumers Flock to 'Wearable Bullion' Gold Jewelry
The UAE's gold market is experiencing an increase in demand for 24-karat gold jewelry that doubles as investment, according to specialists at the Middle East Watch and Jewellery Show.
This trend, dubbed 'wearable bullion,' includes products such as necklaces and bracelets made from 24-karat gold that can be used for both personal adornment and investment purposes.
Hossam Abdel Rahim, sales manager at BTC Gold Supply Company, stated that the current period has seen a growth in demand for bullion products in general, driven by the decline in gold prices. He noted that wearable bullion products are particularly popular due to their ability to combine multiple uses.
The products come in various forms, including small gold bars with engravings and designs, as well as bracelets made from 24-karat gold. According to Abdel Rahim, these products are treated as bullion when resold in terms of value, maintaining their nature as pure gold products.