Pursuits
Iran's Gold Jewelry Demand Rises to 4-Year High, Bucks Oil Slump
- Low oil prices hurt most of Middle East: World Gold Council
- Saudi Arabia, Egypt, U.A.E. gold consumer demand declined: WGC
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Iran’s gold jewelry demand climbed to a four-year high in the first quarter, as the rest of the Middle East was hurt by low oil prices.
An improving economy helped Iran’s jewelry demand climb 27 percent from a year earlier to 12.9 metric tons in the first three months this year, the World Gold Council said in a report Thursday. Iran’s gold bar and coin demand was 3.7 tons, the most for the region, compared with sales of 0.3 ton.