Why are the Gold Souks Empty?
A visit to Saudi Arabia is not complete without a visit to one of the gold souks (markets). Typically, one can only find 18 carat gold (or higher), and it's usually sold at a price below the market value.
Following Standard & Poor's cut in its US rating on Friday August 5, the price of gold soared to a record $1,700 per ounce.
So although this may be bad news for soon-to-be buyers – i's great news for those who were wise enough to stock up on gold while in Saudi Arabia!
See the full story at ArabNews.com
