Saudi economic sources expected that the global gold market has been experiencing a remarkable surge in light of the continued high world oil prices and gold price jumps to $ 450 per ounce for ounce.



The sources attributed the rise in gold prices to the link inherent to its world oil prices in addition to the growing demand for gold, particularly in China and India.

The sources said that India's demand for gold will increase during the month of August by the marriage season, which usually takes place in such a period as frequently buy gold for decoration and jewelry in India, which is the largest global gold markets.

She has led many investors to gold as the most important as a store of value and secure investments given the decline in the dollar exchange rate against the euro and the increasing attractiveness of the precious ****l as an alternative to shares and loans. The rising prices of oil have been reflected on the prices of gold with a high degree as the European trading was closed yesterday when the high price of 449.30 dollars per ounce, with the continuing wave of buying helped by the weak U.S. dollar and record high oil prices, which exceeded the rate of $ 66 a barrel. The high gold this month at a checkpoint 450 per ounce of gold achieved the highest level since 1988, amounting to 456.75 dollars per ounce.