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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Drop in price brings luster back to Saudi gold market

Posted on 01 August 2013

After a lengthy downturn, gold markets have been rejuvenated by the recent 30% drop in gold prices, bringing customers back to Qabil Street in Jeddah’s Al-Balad.
Hamid Al-Hasan, a shopkeeper at a jewelry shop in Al-Balad, said that the market is experiencing a long-awaited resurgence. When gold prices were much higher, African pilgrims were the main customers, Al-Hassan said, followed by the Indian expatriate community. Saudi customers were a rarity back then, except for those seeking to sell their old jewelry………………………………………..Full Article: Source


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