Eighth Dubai City of Gold Conference Wraps Up

(IDEX Online News) – The recently concluded 8th Dubai City of Gold Conference, organized by the Dubai Gold & Jewellery Group (DGJG), reaffirmed the growth prospects of Dubai’s gold and bullion industry, with some help from India.  

Sanjay Kothari receiving a presentation at the 8th Dubai City of Gold Conference

Sanjay Kothari, vice chair of the Gem and Jewellery Export Promotion Council (GJEPC) who attended the conference, said, “Consumers across the world are shying away from buying gold and jewelry. There need to be initiatives to promote the purchase of gold and other jewelry in the world markets.”

The GJEPC has offered to conduct B2C conferences on behalf of the DGJG in Dubai and in smaller cities to give an impetus to sale of gold and other jewelry, Kothari announced.

According to the DGJG, the industry is expected to maintain its current growth rate of around 18 percent per annum.

“Like many other events organized by the DGJG, this conference has played a pivotal role in facilitating the transfer of knowledge and global best practices in the entire region. While Dubai is known as the City of Gold, it is strategically positioned close to several gold and jewelry markets that are experiencing huge growth rates, such as the GCC and Asian subcontinent regions as well as Russia and China,” said  Anan Fakhreddin, chair of the DGJG.

The conference was attended by some 450 delegates from the global gold and bullion trade as well as leading global jewelers, analysts and bankers. The conference was held under the patronage of HH Sheikh Ahmed Bin Saeed Al Maktoum and inaugurated by HE Sami Al Qamzi, director general of the Department of Economic Development.