Purchasing gold bullion is a popular form of investment, especially among Asian expatriates in Qatar. While some purchase gold to sell it later at a profit, others take it to their home countries owing to its higher purity level in the region.
In recent times, there has been a decrease of gold prices in the country and that is expected to encourage expatriates to buy it in bigger quantities.
Bullion dealers in Doha are optimistic that the lower price for gold will help boost their sales of the yellow metal, according to a report in Gulf Times.
The newspaper reported that the current average price of QR143.50 per gram was the lowest in more than a year. Last year, the price of gold fluctuated between QR145 and QR157 per gram, reported Gulf Times.
Gold Rate in Qatar on 22-Jul-2018
24 Carat Gold Rate : QAR 153.50 / 1 gram
22 Carat Gold Rate : QAR 143.50 / 1 gram
View historical gold rates in Qatar at https://t.co/4Tnv7cekPC
After a downturn, there is now a growing trend among expatriate customers to invest heavily in jewellery. Jewellery sellers in the country now expect there to be more demand for smaller ornaments in the coming days.
Qatar has also been doing its part to popularise the trend of buying jewellery by recently opening a brand new Gold Souq, which houses 50 shops all under one roof.
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