Friday, 27th August 2004 (3328 views)

Sales of gold in Kuwait have increased by 28 per cent in the first quarter of this year according to new figures.

A report from the Kuwaiti office of the World Gold Council shows that the country scored the highest increase in the gulf market.

Saudi Arabia recorded a 23 per cent increase in gold sales, with UAE second on a 22 per cent rise.

Kuwait's sales increased from 37.3 tons during the second quarter of 2003 to 41.7 tons in the second quarter of 2004.

Osamah Al-Wazeer, manager of the Gulf Region in the World Gold Council, told KUNA that a rise in oil prices and an improvement in the internal tourism sector had been the main driving forces behind the improvement in the market.

 

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