Middle-east Arab News Opinion | Asharq Al-awsat

Saudi Gold Consumption Rises 10% | ASHARQ AL-AWSAT English Archive 2005 -2017
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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.