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Gold’s popularity soars in US, UAE
Published on: July 03, 2009 at 17:40
Commodity Online
DUBAI: Gold’s popularity has been on the rise during the recession period, according to reports in various dailies.

In United Arab Emirates (UAE), the suitability of gold as a gift has been cited as a reason for a rise in its popularity. Sales of the precious metal increased by more than 30 per cent last month.

Again in the US, consumers are increasingly choosing gold jewellery to express their patriotism.

With the July 4 celebrations that mark the signing of the country’s Declaration of Independence approaching, jewellers say that the precious metal is popular among men in particular.

Gold cufflinks were observed as being one way that Americans are showing their love for their country, with special pieces being created to meet the demand.

Italian designer Herzog has produced two kinds of 18-C cufflink in a star shape that are proving to be an exclusive option.

In addition, gold coin cufflinks have been launched by other companies and are being considered collectors’ items.

Celtic Rings announced that it is reintroducing its Celtic Warrior range of wedding rings, which are designed to celebrate Irish heritage.

The new pieces are said to offer a more comfortable fit without compromising on design.
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In India, gold is considered as one of the prestigious instruments of investment among the household consumers. Small household units are now becoming potential investors for gold from the key consumers. The demand for consumption purpose is no longer the main driver of demand for the yellow metal, but the systematic investments in retail gold investment options is the latest crush among the small investors in the country.
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