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Saudi Gold Consumption Rises 10% - ASHARQ AL-AWSAT English Archive
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Sharjah, June 2, SPA — Gold consumption in Saudi Arabia grew by 10 percent to 37.3 tons in the first three months of 2005 when compared with the corresponding period in 2004.

In terms of sales during the same period, the growth rate was 15 percent, from $509 million in 2004 to $586 million in 2005.

A press statement issued yesterday by the Dubai office of the World Gold Council showed that Saudi Arabia led the list of consumers in a grouping made up of the six GCC countries and Egypt.

The Arab Gulf Cooperation Council (GCC) is made up of Saudi Arabia, the United Arab Emirates, Qatar, Bahrain and Oman.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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