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Saturday , April 20 2019

Gold stamping lower in Nov 2017 compared to 2016

46 pct increase in gem stones examination

KUWAIT CITY, Jan 3: The Precious Minerals Department in the Ministry of Commerce and Industry stamped more than 1.9 tons of gold in November 2017 with financial return of more than KD 98,000 – lower by about four percent compared to the same month in 2016, reports Al- Nahar daily.

The daily informed that the number of gold and silver bars which were stamped last August weighed about 735 kilograms with 28 percent financial return estimated at more than KD 36,000 while in November 2016; 1,015 kilograms of gold and silver bars were stamped.

In addition, there was a notable decline of silver stamped last November compared to the same month in 2016 with 103 kilograms of silver bars stamped in November 2017 and 444 kilograms in 2016 – a significant drop of about 77 percent.

However, there was a remarkable increase in valuable gem stones examined and valued by the concerned department in the ministry, about 46 percent increase compared to November 2016 when 168 valuable gems were examined while in November 2017, 246 kilograms of similar gems were examined.

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