Saudi Arabia gold sales rocketed up about 17% in volume and 30% in value during its prosperous 2007.
Moaz Barakat, managing director of the World Gold Council in the Middle East, told Reuters he thinks the market still looks positive.
"Increasing demand from tourists lifted the market, and if Dubai, the heart of the UAE, was not affected by volatile prices in September and October, we would have seen better figures," he told the news service.
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