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Kuwaitis buy 11 tonnes of gold worth half a billion dollars in just two months
KUWAIT CITY - Kuwait has recorded record gold sales in the last two months, indicating that citizens and expatriates bought gold valued at close to half a billion dollars, the Kuwaiti newspaper Al-Rai reported on Saturday.
The newspaper said in a report, "Economy News", that "the total purchase of the" yellow metal "by citizens and residents in just 60 days, approached about 11 tons," pointing out that «A | Total value of this quantity reaches To about 132 million dinars (about 425 million dollars), on the basis of the average price of about 12 dinars per gram.
"The total gold purchased during the whole of 2017 did not exceed the 33.6 tonnes threshold," it said, adding that "the number of gold marked in the third quarter (July, September and September) is 50 percent of the total amount recorded last year.
The paper pointed out that "the remarkable state of demand for bullion and gold not occupied by individuals (citizens and residents) was the result of two factors, the first relates to the data of the markets and their interaction with disturbing geopolitical events, while the second focuses on personal decisions of saving and saving in order to benefit from the decline in prices Yellow metal, which finally hit its lowest level in nearly 18 months. "
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