July 24, 2009
Did you know that crude oil was also another term for black gold? Places in the middle east such as Saudi Arabia are well known for the plethora of crude oil that they posses. No matter what form the gold is in, it is worth a great deal of money right now. The gold market has reached some amazing heights and even your old and broken pieces of gold can reward you a nice big paycheck.
One of the things that come to mind when thinking of the Middle East and in particular, Saudi Arabia most people thinking of black gold, also known as Crude Oil. However something that is not considered much is the amount of cash for gold and wholesale gold bullion sales that have taken place in the land of Saudi Arabia. The writer has witnessed first hand the lavish and many different types of gold styles that existed there as he brought some home for his family. Historically speaking Saudi Arabia has a long standing history of trade of spices, fabrics and other types of commodities that came through as people would come through while people came for pilgrimage and business.
According to well known author Tony Warrick-Ching, he expressed in his best selling book “The International Gold Trade” he highlighted that Saudi Arabia was responsible for most of the gold bullion export that took place in the early 1990′s and had a stable flow of success with the gold bullion until then. Now bringing it back to the present, along with Africa, it is the opinion of the writer that Saudi Arabia gets overlooked greatly when it comes to the point of seeing them as an exporter of gold. Possibly due to the tariff policies Saudi Arabia has also placed restrictions on imports of gold from France, Italy Spain and other European Unions.
Even still, with the mass production of Scrap Gold and manufacturing of other gold entities like gold coins which happen to be the Dinar and then also native gold jewelry that is very popular with women there have made them a major player in the gold market. And speaking of the demand of gold jewelry in Saudi Arabia, they have the major jewelry distributors but also there are many local independent non-corporate gold manufacturers who have been able to support themselves with regards to having a clientele. If we think about it the Middle East has a long standing history of producing gold and exporting it out in neighboring regions which in turn has assisted the region in it’s own economic success. In conclusion something to keep in mind as we watch the current news regarding trade in the Gold Market is Arabia’s influence on the market. As people of consciousness it is important t to see the land to the east of us as more than producers of oil and international conflict, and at the same time see it as golden land as well.
*There are many everyday changes going on the world of gold transactions and purchases. To learn more about the current price of gold in the modern day world visit: http://cashforgoldusa.com