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FINANCIAL NEWS
Gold sales drops 50 pct in Haj season in Saudi
13 Oct 2013
(MENAFN) The Arab Spring revolutions have affected the jewelry retail trade in Makkah, especially gold sales as it decreased more than 50 percent compared to last year, according to Arab News.
Pilgrims usually buy gifts, especially jewelry, for their relatives and friends, what makes Haj season the busiest season during the year for thousands of shops around the Grand Mosque.
Mohammed Al-Himms, store manager at MS jewelry outside Makkah”s Grand Mosque, said: “Gold sales have really taken a hit. I would say the market is down by more than 50 percent compared to the last Haj season.”
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