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flag Dubai jeweller Bafleh cuts gold imports 20-30% due to $3,600/oz price surge, shifting to lighter designs.

flag Bafleh Jewellery, a major Dubai-based importer of Indian jewellery, has cut gold import volumes by 20% to 30% in the first eight months of the current financial year, dropping from 1.2 tonnes to 600–700 kilograms, due to a sharp rise in gold prices from $2,200 to $3,600 per ounce within three months. flag Despite higher import values, physical volumes declined as soaring costs pressured consumer demand. flag In response, the company is shifting to lighter designs and lower-karat gold, working with Indian suppliers to maintain quality while reducing gold content. flag While duty-free imports under Dubai’s SIPA agreement with India offer some advantage, overall business has declined by 30% to 40%. flag African markets still prefer heavier pieces, while Australian clients use barter systems to avoid price volatility. flag The company emphasizes Indian jewellery’s handmade craftsmanship as a key competitive edge globally.

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