Fall in gold prices spurs Diwali sales in Oman

Muscat: Festive season gold sales have been spurred by the recent fall in prices.
The price of the yellow metal has dropped ahead of the Indian festival of Diwali, which means rows of lighted lamps.
During this festival, people traditionally light up their homes and purchase gold.
“Three weeks back, one gram of 22-carat gold was being sold at OMR16.3. But this weekend, the price of one gram of gold has dropped to OMR15.6, which has encouraged many people to go on a gold shopping spree,” said Rajesh Govindan, country Manager of Liali Jewellery in Oman.
He also said that jewellery shops in Oman had witnessed a heavy rush on Friday and Saturday, ahead of Diwali. “We reported about 10 to 15 per cent more sales than any other normal day,” he said.
Other jewellers at Ruwi High Street also confirmed that they recorded brisk sales during the weekend. “We were open till midnight, as customers started flocking in,” they said.
Dhanteras, the first day of Diwali, is considered an auspicious time to buy jewellery and clothing.