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IPMI and Industry News: Industry News

Gold Jewelry Demand Falls in UAE

Tuesday, April 10, 2018  
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Dubai Loses Glitter as VAT Tax Crimps Demand in City of Gold

Demand for gold jewelry in the United Arab Emirates plummeted in the first quarter, and traders say they know the culprit: the value-added tax. Wholesale gold jewelry sales in Dubai, sometimes known as the City of Gold, fell 50 to 60 percent in the first quarter from a year earlier. - Bloomberg 04/10/2018

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