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UAE gold sales rise 53%
- United Arab Emirates: Saturday, April 28 - 2007 at 08:34
Retail gold sales in the UAE spiked by 53% in Q4 2006, reaching $463m, as opposed to $299.6m in the same period in 2005. Statistics from the World Gold Council also showed that gold consumption in the UAE increased from 17.6 tonnes in Q4 2005 to 19.1 tonnes in the last three months of 2006. But demand in other GCC nations dipped due to high gold prices.
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Jonathan Sheikh-Miller, Deputy EditorSaturday, April 28 - 2007 at 08:34 UAE local time (GMT+4)
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This article was updated on Wed May 30 2007.
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