Dubai's gold market reopens after Coronavirus Lockdown

The gold and jewellery sector is one of the pillars of Dubai’s economy. Dubai’s historic gold souk is sparkling again after it was shuttered during the coronavirus lockdown.

The emirate shut down its glitzy shopping malls, upscale restaurants and traditional markets for a month to fight the spread of the virus. The reopening of one of the world’s biggest gold markets is a critical step forward toward normality ahead of the autumn tourist season, in a city that prides itself on shop-’til-you-drop experiences.

Tawhid Abdullah, chairman of the Dubai Gold and Jewellery Group, the industry’s main governing body in the emirate said,“Reopening the shops is a big step for us... The main factor here is psychological.”

“We expect that by July or August when the airports reopen... we will regain 50 percent of our business activity,” he added.