Gold sales in the Middle east rose 23 percent during the fourth quarter of 2000, rising to 115.8 tons, reported the World Gold Council.
As traditionally has been the case, the leading market in the region was the United Arab Emirates, where fourth quarter sales 87 percent. Over all of 2000, the UAE saw gold demand climb 18 percent to 94.5 ton, from the figure reported a year earlier
.
Moaz Barakat, the World Gold Council’s regional director for Middle East, noted that demand in the Gulf states reached 156.7 ton in 2000, up 9 percent from 1999. Fourth quarter demand was 41 percent higher at 38.5 tons, he said.
In Saudi Arabia fourth quarter sales increased 29 percent to 50.5 tons. For 2000 as a whole, Saudi demand for gold climbed 11 percent to 221 tons, compared with 1999. – (Albawaba-MEBG)
© 2001 Mena Report (www.menareport.com)
