Demand for Gold in Dubai Soars
Figures of gold bullion sales in Dubai show that there has been a record amount of investors buying gold as concerns over the economic uncertainties worldwide take hold. Since the beginning of 2009 gold sales in Dubai have risen by 50%.
Business man Firoz Merchant says that “there is a lot of uncertainty..because of that consumers and investors are very comfortable investing money in gold; Gold seems like the only investment at present that can give a good return as investors are nervous about the uncertainty around paper currencies”.
The price of gold is predicted by analysts to climb in the long term but in the short term it still remains volatile. Long term investment would seem the wise option and the investors of Dubai are following suit.
Related posts:
- Dubai Debt Deal Steadies Gold
- Dubai’s biggest gold retailer plans expansion
- Middle East Change Gold Buying Habits
- Demand for Gold is Soaring
- Royal Mint Ups Production as Demand Increases
Link to this article: : http://www.goldmadesimplenews.com/gold/demand-for-gold-in-dubai-soars-317/
Posted by Jason Cozens on May 26 2010. Filed under Gold News.
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