From Arabian Money:Traders in Dubai’s famous Old Gold Souk told ArabianMoney this week that trading volumes are a little below those of a year ago, but the value of transactions is significantly higher due to the rise in the gold price.
In a gold bubble surely you would expect some increase in the volume of trading in one of the world’s oldest gold markets in the City of Gold. The souk is a magnet for buyers from around the world and particularly from Arabia.
Gold buyers
You see Saudis with their wives buying up jewelry at near bullion prices. Russians cashing out of dollars. Curious Asian tourists buying coins on the spur of the moment. Yet there just are not enough of them for gold to be in a bubble.....read on
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