Heard Something About Gold On CNBC

elwood

One factor that might be helping to push up the price of gold is that gold sales to the Gulf States, that includes the United Arab Emirates (sp?) and Saudi Arabia, are up almost 30% over last year. We know where all that oil money is going.

paigowjohnny

They LOVE gold over there.....entire marketplaces (souks) dedicated to gold jewelry shops. It's a trip to walk down the street and see these shop windows just crammed with gold bangles and the like.

clackamas

Smart move, get out of all the dollars they have and buy hard currency.