Customers to benefit from increasing gold rate by just paying 10% advance at MGD


DUBAI — In the wake of rising gold prices, Malabar Gold & Diamonds, one among the largest jewelry retailers globally with a strong retail network of over 250 outlets spread across 10 countries, is providing customers with the Gold Rate Protection Scheme, a unique opportunity to buy gold, be it for personal use or as an investment, at the best rates.

Customers can just pay 10% advance for their favorite jewelry and get benefits from increasing gold rate and protect themselves from the constant increase in gold rate. If gold rate increases at the time of purchase, customers can avail the booked rate and incase it reduces they can still draw mileage of the reduced rate i.e. a customer intending to buy gold worth SR10,000 just needs to pay SR1,000 to avail the advance booking offer and in turn get protected from the increasing gold rates.

As per the management team of Malabar Gold & Diamonds, this scheme has been designed in such a way that customers are not affected by the increasing gold rates. This offer will be valid until April 30 across all Malabar Gold & Diamonds stores in GCC, Malaysia, Singapore and USA.

It is always beneficial to buy gold from GCC considering the significant difference in price when compared to India. When a customer spends SR190 in KSA for 1 gm of gold, the equivalent value in India is INR 4,310 i.e. SR228, giving them a benefit of SR38 per gram. Yesterday, gold was priced at a rate of SR194 per gram compared to the rate of SR 154 on Feb. 24 which is an increase of SR40 per gram.

Considering that gold is a convenient investment assuring safe returns even for middle class, there is an increase in people deciding to invest in this metal. Even amid several other investment options often considered by salaried expats for higher returns not performing well, the fact that gold has not lost its sheen is a major advantage for the market. — SG