Free Republic

Dubai: Gold sales in the UAE soared 56 per cent in the third quarter compared to the same period of 2007, the World Gold Council said on Sunday. According to the WGC's regional office in Dubai gold sales in the UAE increased from Dh2.8 billion in the third quarter of 2007 to Dh4.3 billion this year. Gold sales in Saudi Arabia increased by 51 per cent, with sales growing by 42 per cent in other Gulf countries and by 33 per cent in Egypt in the third quarter. As the grip of the global financial meltdown tightened around large econ-omies...

LONDON (MarketWatch) -- With gold off more than $90 an ounce over two days, commodity producers were hammered again Thursday, but banking stocks managed to rebound after U.K. regulators stepped in to quell rumors about the sector's health. Gold and other metals remained under pressure amid calmer waters on Wall Street and ideas the Federal Reserve is no longer as unconcerned about inflation as previously believed after the central bank was somewhat less aggressive than expected in cutting its key interest rate earlier this week. April gold futures were down $22.80 an ounce to $922.50, and silver and platinum futures...