As the Diwali festival approaches, jewelers in the UAE are rolling out a variety of discounts and promotions to entice buyers. These offers range from free gold coins and bars to zero percent deductions on old gold exchanges, aiming to capitalize on the high demand during this festive season.
Despite the fact that gold prices have reached an all-time high, sellers are also providing 100% value on diamond exchanges and flexible payment plans. On Tuesday morning, the price of 24K gold was Dh331.5 per gram, while 22K, 21K, and 18K were trading at Dh307.0, Dh297.0, and Dh254.75 per gram, respectively. Spot gold was trading at $2,731.49 per ounce, up 0.37%.
Dubai-based jeweler Malabar Gold and Diamonds has introduced a series of exclusive jewelry pieces as part of their festive offerings. "Customers purchasing gold and diamond jewelry will receive a free gold coin with their purchase. Additionally, we are offering the chance to exchange old 22K jewelry purchased from anywhere without any deductions and 8-gram gold coins without making charges," said Shamlal Ahamed, the jeweler's managing director for international operations.
Special buy counters offering selected jewelry at incredible discounts have been set up across their showrooms. All offers are valid in the UAE until November 3.
UAE jeweler Joyalukkas is providing a free one-gram 24K Lakshmi Idol or gold bar on diamond and precious stone jewelry purchases worth Dh5,000 or gold jewelry worth Dh20,000. For purchases of Dh3,000 in diamond and precious stone jewelry, customers can receive 500 milligrams of 24K gold bars. Additionally, on October 29, customers can get a free 200 milligrams of 22K gold coins on gold jewelry purchases of Dh3,000.
Known as the festival of lights, Diwali will be celebrated on October 31 and November 1. "This Diwali, we are thrilled to launch ‘Golden Diwali’ – our biggest festive offer yet… To make this Diwali even brighter, we’re offering no making charges on 8-gram gold coins, zero percent deduction on old gold exchange, and guaranteed gold rate protection with a 10% advance payment. For diamond enthusiasts, there’s 100% value on diamond exchanges," said John Paul Alukkas, managing director of Joyalukkas.
In addition, the jeweler offers flexible payment options to customers in the UAE.
Tanishq, the jewelry brand from the house of Tata, offers up to 100% off on making charges or a free gold coin with purchases in the UAE. "The brand provides an unmatched 100% current date gold value on old gold exchange, for customers looking to beat the high gold rates. In addition to the above, there are special sections in stores offering products on best deals. We believe these incentives will make it easier for everyone to celebrate any occasion with elegance and style," said Aditya Singh, head of the jewelry international business, Titan Company Limited.
Liali Jewellery is also offering free gold coins on purchases of Dh3,000 and above. "Understanding the high demand during this season, retailers are offering discounts on making charges or running festive offers. These promotions help attract customers who might otherwise feel the pinch of rising prices," said Anuraag Sinha, managing director of Liali Jewellery.
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