Dubai’s traditional gold sellers are expecting up to 30 percent less customers during the lead up to Diwali as gold prices continue to surge amid global market turmoil. Diwali and Dhanteras, two festivals most auspicious for buying gold, should be one of gold traders’ busiest selling periods after the Dubai Shopping Festival, but the continued rising cost of gold is forcing many customers to reconsider their purchases, according to gold sellers at Dubai’s historic Gold Souq. “A few weeks ago gold prices were pretty stable but now they’ve shot up. Volatile prices are definitely a worry and will almost certainly affect sales,” Swatna Nair, general manager at Dubai Gold & Jewellery Group told Arabian Business.

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