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Saudi: Soaring gold prices drive investors to other markets

Posted on 04 January 2012

Unstable and record high gold prices are forcing many investors in the industry to diversify their investments and a favorite alternative is the Kingdom’s booming real estate market. According to Fahad a shopkeeper at the Al-Yamama gold souk in South Jeddah, many owners are reducing the amount of gold they keep in their shops and shifting their attention to real estate investments.
“The owner of the shop has reduced the number of workers here from five to three and is investing in constructing new apartment buildings, which unlike gold, sell very quickly,” said Fahad………………………………………..Full Article: Source


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