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FINANCIAL NEWS
Kuwait gold sales on the decline
30 Sep 2010
(MENAFN) Kuna reported that gold sales in Kuwait have been in a slump since the world economic crisis broke out in mid 2008 with the prices going beyond the purchasing power of the majority of consumers.
However, the prices keep going up and are poised to hit new record highs, Ibrahim Lari, a gold seller, said Wednesday as he looked desperately at customers going to other more booming businesses.
Since early September, the gold price in Kuwait has made up to ten new all-time highs, hitting $42 a gram. The rally, triggered by the global economic crisis, is not over yet, as the factors pushing the prices up are still there, observers believe.
Foremost among these factors are the tendency of investors to invest in the gold industry after they lost confidence in the stock markets and the fluctuating exchange rates of main currencies.
Kuwait imported only 12 tons of gold in 2009 compared to 26 tons in 2006 and a similar quantity in 2007, according to traders.
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
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24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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