Demand for gold in the GCC and Egypt saw a 16 percent rise in the third quarter of the fiscal year, reaching $2.6 billion from the previous year, MENAfn cited Reuters as saying.
Demand for gold meant for investment reached $273 million, a 38 percent increase compared to previous year, reported MENAfn.
The agency also reported that gold prices broke records in the first week of November, reaching $1,400 per ounce.
Saudi Arabia ranked first in consumption of the yellow metal. The UAE came in second with $741 million.
