By ARJUWAN LAKKDAWALA | ARAB NEWS
JEDDAH: With the price of gold skyrocketing and no immediate signs of it coming down, people wanting to buy gold for their immediate needs are in a dilemma — to buy then how to buy.
The prices in the market makes it nearly impossible for people with an average income to afford gold.
For these people, some of the gold jewelers have come up with a solution — gold on installment.
The process is simple, and the gold bought by the customer is kept in trust with the shop owners till the amount is paid.
“I’ll soon be getting married, and I was worried by the fact that without buying any gold, how could I get married? Since traditionally a bride must have some new gold, but it has become so expensive I can’t afford it,” said Alya Ebrahim Meshary.
“But this new scheme is helpful. Now I’m going to buy gold on installment, so that by the time my wedding date nears I’ll have purchased the new ornaments,” she said.