Doha Bank Expects Record Gold Sales on Falling Stock Markets
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Doha Bank QSC expects to sell a record 200 million riyals ($55 million) of gold this year as consumers take advantage of lower prices and investors seek a haven from falling equities and weakening currencies.
The bank, the first lender authorized to import and sell gold in Qatar, took in 23,818 ounces in the first seven months of 2015 compared with 15,830 ounces in the same period last year, Samuel K.V., head of treasury trading and product management, said in a phone interview from Doha Sunday. Sales were worth 110 million riyals in the 2015 period, he said.