Iran Gold Demand Rises
Iran Gold Demand Rises

Iran Gold Demand Rises

Iran Gold Demand Rises

Egypt and Turkey led a slump in Middle East gold demand in the second quarter, with only Iran showing gains in the region’s investment and jewelry consumption. Middle East jewelry demand declined 22% to 45 tons, with Egypt down 40% to 5.3 tons, the lowest on record, according to the World Gold Council. In Turkey, first-half investment demand for coins and bars was 8.8 tons, the lowest since WGC records began in 2000. Iran’s jewelry demand, however, jumped 10% and investment demand gained 2%. “Demand in most markets across the region was affected by any or all of the following: the high and sharply rising gold price, ongoing political instability, continued pressure on revenue from relatively weak oil prices and sliding tourist numbers,” the WGC said. “Demand in Iran continued to improve on the wave of optimism sparked by the removal of sanctions.” Saudi Arabia, the biggest gold jewelry buyer in the region, saw a 25% drop in demand in the three months ended June 30 while its bar and coin consumption fell 21% to 2.5 tons. Iran was the biggest buyer of gold for investment in the region, purchasing 7.2 tons in the quarter.

Short URL : http://goo.gl/RGgd5g
  1. http://goo.gl/ckaZoB
  • http://goo.gl/EFBSni
  • http://goo.gl/LDCSct
  • http://goo.gl/GPfu8S
  • http://goo.gl/mAzPsu

You can also read ...

Central Bank of Iran Against Market Intervention
Central Bank of Iran's Governor Abdolnasser Hemmati said the...
New Forex Initiative Unable to Tip Scales
The new forex initiative has only managed to fix major policy...
VDMA Backs Iran Trade
Germany’s plastics and rubber machinery trade association,...
Tehran Shows 4th Biggest Upturn in Economist’s Livability Index
Tehran is one of the top five cities in the world to have...
Equity-Based Sukuk Return to Iran Capital Market
The government is set to clear part of its debt to Social...
Musk Bid for Tesla Still Murky
Tesla Inc’s board named a special committee of three directors...
Over €81m Worth of Airport Equipment Purchased  Post JCPOA
Iran Airports & Air Navigation Company, an arm of the...
S. Korea Bans Recalled BMWs Over Fire Fears
The South Korean government has said it will ban about 20,000...