WGC confirms 17 percent increase in gold sales value in the UAE

The World Gold Council (WGC) confirmed that the market remained healthy in the UAE in relation to global markets. WGC’s latest reports announced that the UAE gold jewellery sales increased by 17 % in 2008 to cross USD $ 3.75 billion compared to USD $ 3.12 billion. Jewellery sales accounted for 90 % of total consumer demand and net retail investment witnessed strong growth of 38 % in Q4-2008, compared to the same period in 2007.