Browse related articlesAbu Dhabi gold recovering
United Arab Emirates: Sunday, February 10 - 2008 at 09:31
Abu Dhabi's gold sales, hit by last year's record prices, are slowly recovering as buyers adjust to current high prices, the Gulf emirate's Gold and Jewelry Group chairman said, reported Reuters. The market recovered in January and was unchanged compared to the same period in 2007. Prices have hit several peaks last year hitting gold sales in Abu Dhabi. Sales fell 25 percent in volume and 30 percent in value. A surge in oil prices boosted gold's appeal as a hedge against inflation. In 2007, gold sales for jewelry and investment in the UAE, a seven-member federation that also includes Dubai, rose almost 12 percent in volume and 20 percent in value from the year before as tourism grew, the World Gold Council has said.
Readers' recommendation
This story is currently rated 7.00 of 10 based on 14 readers' recommendations
This story is currently rated 7.00 of 10 based on 14 readers' recommendations
- ADD ARTICLE TO
-
Facebook
del.icio.us
Digg">
Also consider reading:
- » Trading surges 95% in DGCX
- » Ahli Bank's new loans scheme
- » Platinum hits record high
- » UAE consumer confidence shaken
- » Markaz Gulf Fund achieves record return
- » Gold jewellers posts 58% increase in sales
- » Middle East stocks to 'outperform' this year
- » Tanmia extends support to Tawdheef 2008
- » Gold may hit $1000 in 2008
- » Equity touted as best investment
Amena Bakr, Senior ReporterSunday, February 10 - 2008 at 09:31 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
Disclaimer:
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AME Info Web site does not constitute advice or a recommendation by AME Info FZ LLC / Emap Limited and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AME Info Web site.
AME Info FZ LLC / Emap Limited can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AME Info Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / Emap Limited.
In no event shall AME Info FZ LLC / Emap Limited be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AME Info Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AME Info Web site does not constitute advice or a recommendation by AME Info FZ LLC / Emap Limited and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AME Info Web site.
AME Info FZ LLC / Emap Limited can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AME Info Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / Emap Limited.
In no event shall AME Info FZ LLC / Emap Limited be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AME Info Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
Web Feeds