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    Saudi gold consumption rises 4.5%
    01-02-2005 , 07:16
    Saudi Arabia's gold consumption went up by 4.5 percent to 139 tons in 2004 from 133 tons in the previous year, and sales of the yellow metal in the Kingdom rose by 18 percent to $2.1 billion in 2004 from $1.8 billion in 2003, according to the World Gold Council (WGC) regional office in Dubai.

    The WGC said the annual gold consumption in terms of tonnage in the six Arab Gulf Cooperation Council (GCC) countries saw an average increase of six percent in 2004 when compared with 2003 - from 273 tons to 290 tons.

    Sales in the GCC countries rose by an average 19 percent to $4.1 billion in 2004 when compared with $3.7 billion in 2003 despite an 11 percent increase in price, said the council.

    © 2005 Mena Report (

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