The Consumer Rights Department of Dubai Economic Department and the Dubai
Gold and Jewllery Group have introduced new transparent electronic boards to
announce the frequently changing gold prices to help consumers, especially
tourists thronging the emirate.
Transparent price display board is an initiative to improve consumer rights in the gold and jewllery trade, after recently the weighting and measuring equipment have been standardized by the Emirates Standardization Authority (ESMA).
As the yellow metal prices fluctuated as much as $40 per ounce a single day and $270 increase per ounce in one year (17.9 per cent), traders and consumer are always alert about the latest gold price.
When the prices go up, traders and jewellery outlets are quick to make the changes on their display boards, but when prices fall, many consumers believe that they may not be as prompt.
Speaking to Emirates 24|7 Biju Joy, General Manager, Dubai Gold and Jewllery Group, said four electronic price display boards are already functioning at the Dubai Gold Souq and more such price boards will come up in different parts of the city where gold and jewllery business is predominant
Transparent price display board is an initiative to improve consumer rights in the gold and jewllery trade, after recently the weighting and measuring equipment have been standardized by the Emirates Standardization Authority (ESMA).
As the yellow metal prices fluctuated as much as $40 per ounce a single day and $270 increase per ounce in one year (17.9 per cent), traders and consumer are always alert about the latest gold price.
When the prices go up, traders and jewellery outlets are quick to make the changes on their display boards, but when prices fall, many consumers believe that they may not be as prompt.
Speaking to Emirates 24|7 Biju Joy, General Manager, Dubai Gold and Jewllery Group, said four electronic price display boards are already functioning at the Dubai Gold Souq and more such price boards will come up in different parts of the city where gold and jewllery business is predominant
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