Middle East bullion imports down 50% in 2006: GFMS

摘要

London—A surge in locally generated scrap gold, coupled with a sharp decline in domestic jewelry fabrication, resulted in a drop in fresh bullion imports into the Middle East in 2006, GFMS said April 3.rnHigher prices last year were the major catalyst behind the decline in fresh gold demand across the region, due to a combination of weaker demand and higher levels of jewelryrnscrap supply, with the latter partly substituting for imports of new bullion into the Middle East, GFMS said in its Gold Survey 2007.