Demand for gold jewelry in Saudi Arabia fell 32 percent, mainly due to high and erratic gold prices plus the insecure situation of the Saudi stock market.
The slump started in February this year affecting both consumer sentiments and the purchasing power of individuals.
Unstable gold prices led many individuals to sell part of their gold savings and gold investments to make high profits resulting from high gold prices.
Total demand in Saudi Arabia attained 35.6 tons this year.
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