In the wake of surging gold prices, Indian jewelry retailer Malabar Gold & Diamonds has launched a scheme that allows customers to buy gold at the best price.
Under the Gold Rate Protection Scheme, buyers will be able to protect their favorite jewelry piece against the increasing gold rate by paying only 10 percent of the entire amount of the jewelry item and reserving it.
The remaining amount can be paid later.
According to the retailer, the scheme has been designed in such a way that customers will not be affected by the increasing gold rates.
If the gold price increases at the time of purchase, customers will be able to avail the booked rate, and in case the gold price drops, they will be able to benefit from the reduced rate.
For example, if a customer intends to buy a jewelry item worth SR10,000 ($2,665), then all they have to do is to pay 10 percent of the amount — SR1,000 — to book the item and avail the offer.
This offer is valid until April 30 across all Malabar Gold & Diamonds stores in the GCC, Malaysia, Singapore and the US.
FASTFACT
This offer is valid until April 30 across all Malabar Gold & Diamonds stores in the GCC, Malaysia, Singapore and the US.
It is considered beneficial to buy gold from the GCC as opposed to India because of the significant difference in prices.
If a customer pays SR190 in Saudi Arabia for one gram of gold, the equivalent value in India is 4,310 Indian rupees i.e., SR228, giving buyers a benefit of SR38 per gram.
Many middle class families believe investment in gold ensures safe returns and offers liquidity. Amidst 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.
Malabar Gold & Diamonds is the flagship company of Malabar Group, a diversified Indian business conglomerate.
With 14 cluster manufacturing units in India and the GCC, the company currently has 12 jewelry brands and is known for its gold, diamond and precious stones
jewelry.
Established in 1993 in the Indian state of Kerala, Malabar Gold & Diamonds today has a retail network of more than 250 outlets spread across 10 countries, 14 wholesale units in addition to offices, design centers and factories spread across India, Middle East, Far East and the US.
With an annual turnover of $4.51 billion, the company currently ranks among the largest jewelry retailers globally.
