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Egypt reported an astounding increase of 64.0 % in Q1-2008 gold sales over comparative Q1-2007 figures, whilst Saudi Arabia registered an increase of 7.0 % over the corresponding period. In real value terms, gold consumption in Egypt for Q1-2008 was USD $ 641.0 million (USD $ 392.0 million for Q1-2007) whilst that for Saudi Arabia in Q1-2008 was USD $ 748.0 million (USD $ 699.0 million for Q1-2007).
Dubai’s gold jewellery sales volumes rose 17.0 % in April 2008 over corresponding April 2007 sales on strong demand from India and less price volatility according to the Dubai Gold & Jewellery Group (DGJG). The Emirate also witnessed a modest 5.0 % growth in Q1-2008 over Q1-2007. In Abu Dhabi, gold jewellery sales rose 10.0 % in April 2008 by volume over the same period last year. In value terms, the UAE gold sales increased from USD $ 739.7 million in Q1-2007 to USD $ 849.3 million in Q1-2008, contributing to a 15.0 % increase in value terms.