Consumable investment

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Malabar Gold

Gold is an integral part of many cultures and therefore cannot be easily replaced. Being a consumable investment helps the yellow metal retain its preference among customers, says Najeeb K, Regional Head, Malabar Gold & Diamonds. Excerpts from an interview

Has the yellow metal lost its sheen as a reliable, safe investment option and an ideal hedge against uncontrolled market factors?

The preference for gold jewellery still continues among customers and we only see changes in the type of design customers prefer and their usage. It is an integral part of many cultures and therefore cannot be easily replaced. Being a consumable investment also helps gold retain its preference among customers.

How was your performance in 2018 and what are the latest trends in the jewellery market?

Malabar Gold & Diamonds is celebrating 25th anniversary this year. We have launched our 250th store globally in Chicago, USA recently. USA is the 10th country where Malabar Gold & Diamonds operates. At present we see a significant demand for lightweight and multi-use jewellery which can be used on multiple occasions and are subtle and sophisticated. Apart from this, the major growth is in the demand for solitaires and diamond jewellery. Customers utilise this auspicious day for multiple purpose – from gifting to investing.

Can you advise a systematic investment plan in gold?

We advise to enroll in our monthly gold purchase scheme. It’s an easy way to buy gold jewellery by paying a small monthly instalment of RO30 for 12 to 24 months. Customers will get gift vouchers up to RO40 on the maturity of the scheme. Please visit any of the Malabar Gold & Diamonds outlet near you to know more about it.

Can you elaborate on some of your unique products/services, targeting potential investors in gold?

We have a wide variety collection of jewellery in gold, diamonds and precious gems to suit the tastes of our multicultural and multinational customers in various brands namely Ethnix – handcrafted designer jewellery, Era – uncut diamond jewellery, Mine – diamonds unlimited, Divine – Indian heritage jewellery, Precia – gem jewellery and Starlet – kids jewellery. Also we have an eye catchy collection of trendy designs in 18k & 22K gold, diamonds and precious gems from different parts of the world to flaunt at any occasion or event.

What is your industry outlook for 2019 and beyond?

The preference for gold jewellery still continues among customers and we only see changes in the type of design customers prefer and their usage. It is an integral part of many cultures and therefore cannot be easily replaced. Being a consumable investment also helps gold retain its preference among customers. We expect this trend will continue in 2019 as well.

Muhammed Nafie is an Assistant Editor at Oman Economic Review.

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