Muscat: With Valentine’s Day just around the corner, jewellery shops in Oman are expecting brisk sales.
This is despite the fact that gold prices in Oman continue to climb, largely triggered by a series of political events in the United States.
On Tuesday, 24-karat gold was selling at OMR15.8 per gram while 22-karat gold was selling at OMR15.2 per gram, the highest so far this year.
“We are experiencing a good footfall as all our showrooms are packed with Valentine’s Day offers,” Najeeb K, Regional Head, Malabar Gold & Diamonds, Oman, said.
On Valentine’s Day, a large number of people give gold as gift.
“We are also expecting good business this Valentine’s Day and that is the reason we have come up with several offers. This is despite the fact that gold prices have jumped by 800 baisas in the last one month,” said Rajesh Govindan, country Manager, Liali Jewellery in Oman.
Jewellers predicted that the gold prices will continue to rise over the next few weeks.
“Gold prices have been rising since the beginning of this year. With the US dollar weakening and petrol prices going up, these are also likely to go up further,” a jeweller said.
With Valentine’s Day coming up next Tuesday, jewellers have updated their collections to meet the varied needs of a cross-section of residents.
From special Valentine’s pendants and rings to necklaces and bracelets, all set with diamonds, people are, indeed, spoilt for choice this season.
Malabar Gold & Diamonds launched a special collection of diamonds and 18K gold jewellery, named ‘Heart to Heart,’ to celebrate the season of love.
“Heart to Heart jewellery collection showcases exclusive heart shaped jewellery which symbolizes the best way to express your love. As the demand for heart shaped jewellery increases during this season of love, we have launched the exclusive collection to cater to our customers’needs. This unique jewellery collection is a perfect gift to express your true emotions for your loved ones. With prices starting from OMR65 and going up to OMR310, there is something to fit everyone’s budget,” a statement from Malabar Gold & Diamonds said.