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Friday, 9th June 2006 (4031 views)

For the past few weeks, residents of Gaza have been selling off their gold possessions in exchange for food and clothes, although reports in Australian newspaper The Age suggest the trend is now on the wane.

Everything from jewellery and women's golden dowries to family heirlooms have been sold off to generate some much needed cash.

Most of the gold on sale is sold for slightly less than raw bullion prices on the current markets. Once bought, many of the items are melted down and used to fund further gold creations for sale on the affluent Dubai gold market.

Gold sales have kept the Gaza population's individual economies ticking over as much of the traditional governmental import and export markets have been closed as a result of the recent political unrest.

The sight of several sellers crowding to relinquish themselves of their more expensive possessions has created a somewhat unwanted media frenzy in the bazaars and marketplaces of the war-torn Middle Eastern nation.

 

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