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Alessio Cirillo

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Saudi Arabia: Gold Prices Spike As Shoppers Hurry to Buy Before VAT Deadline
June 28th, 2020 - 06:30 GMT

Saudi Arabia: Gold Prices Spike As Shoppers Hurry to Buy Before VAT Deadline

Saudi gold traders are reporting a spike in business as investors snap up the precious metal ahead of the introduction of the new 15 percent VAT rate next week. At Riyadh’s recently reopened gold souq in Diriyah, jeweler Yaseen Ali said that visitor numbers were almost back to pre-pandemic levels. “I wasn’t expecting this level of sales this week,” he said. “I believe both lifting the curfew as well as ...
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