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Wednesday , September 18 2019

US-Iran tension prompts increase in purchase of Gold bullion among Kuwaitis and Expats

KUWAIT CITY, May 28: The Gold and Precious Metals Sector has witnessed over the last few days a remarkable purchase of lightweight gold bullion (bulk); starting with Lira, bars and then gold weighing 250 grams, reports Al-Rai daily quoting sources.

Sources disclosed the total quantity of gold sold in April reached 3.5 tons valued at $147 million which is considered a record in the market.

Sources explained the US-Iranian tension and high level of readiness in the region have prompted citizens and expatriates to search for a way to protect their own cash liquidity and savings, which are not intended for investments, by purchasing gold in order to maintain their money

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