Monday, January 31, 2005

UAE gold consumption up 9pc

DUBAI — World Gold Council (WGC) regional office in Dubai has announced that the annual gold consumption in terms of sales experienced an increase of 25 per cent last year compared to 2003. The retail gold sales increased from Dh4.4 billion in the year 2003 to Dh5.3 billion last year contributing to a 25 per cent increase.

In terms of tonnage, the UAE gold consumption increased from 88 tonnes in 2003 to 96 tonnes in 2004. This nine per cent increase in gold consumption places the UAE as one of the top 10 gold consuming countries in the world.

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Source: Khaleej Times, BY A STAFF REPORTER

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