Give me the gold! Why Middle East demand for the precious metal in the jewelry business is growing 25+ percent annually

November 27th 2013

Consumer demand for gold jewelry worldwide grew by 20 percent for the year ending September 2013, reaching 3,757 tons and valued at $183.9 billion, the World Gold Council’s Gold Demand Trends report published this month said.

During the same time period, the report said regional consumer demand for gold jewelry has grown by 25 percent, reaching 225.8 tons and valued at $10.9 billion, with the UAE and Saudi Arabia featuring prominently.

In the UAE, gold jewelry demand has grown by 23 percent, reaching 73.1 tons worth $3.5 billion, while Saudi Arabia saw 71.7 tons of consumer gold jewelry demand worth $ 3.4 billion - up 13 percent year-on-year.

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