Doha Bank imports record gold as demand increases

Doha – As falling gold prices continue to fuel strong buying interest in gold, Doha Bank is building up its gold supply to meet increased consumer appetite for the yellow metal.

The bank imported a record 23,818 ounces of gold in the first seven months of 2015 to keep up with sustained demand from jewellery manufacturers, jewellers, retail and high net worth (HNI) investors.

(Gold rebounded this week from July’s 5-1/2 year low, boosted by minutes of the US Fed’s last policy meeting, which dented expectations for an imminent rise in US rates. Spot gold hit a peak of $1,168.40 an ounce and was up 0.5 percent at $1,158.31 on Friday up 4 percent on the week.)

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Source News: Qatar Tribune