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Saudi Arabia buys $3.5bn of gold in two weeks

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Saudi Arabia buys $3.5bn of gold in two weeks
Filed under: Gold & Silver — peterjcooper @ 8:55 am

There has been an unprecedented surge in Saudi gold purchases
in the past two weeks with over $3.5 billion being spent on the yellow
metal, reported Gulf News citing local industry sources.

Gold market expert Sami Al Mohna told the leading regional newspaper
that this buying had substantially increased the gold reserves of the
country: ‘Many Saudi investors see this as the right time for making
investments in gold as the price is the most reasonable one at
present’.

More:
http://arabianmoney.net/2008/11/13/saudi-arabia-buys-35bn-of-gold-in-two-weeks/

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Written by morris

November 14, 2008 at 10:16 pm

Posted in Uncategorized

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