Gold bangles
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Middle-East investment in gold as prices rise

Gold prices are close to record highs of more than $1,500 (£940) an ounce but despite the rise sales of gold bars and ingots across the Middle East have risen by 10% so far this year.

Analysts put this down to regional investors protecting themselves against uncertainty in the region and in global currency markets, with a commodity whose value seems to keep on rising.

There are also signs that heavy buying from expatriates, especially from India, is spurring demand.

Some hotels that have even installed gold vending machines to take advantage of the trend.

Simon Atkinson reports.

  • 26 Jun 2011