Gold News

AngloGold, Al Zahra and WGC form gold promotion partnership

AngloGold Ashanti, Al Zahra Jewellers and the World Gold Council (WGC) have forged a partnership in order to promote a range of 18-carat gold jewellery.

The purpose of the tie-up is to positively impact upon consumption trends of gold jewellery, with a special focus on product quality and design.

AngloGold, one of the world's biggest gold mining firms, teamed up with the Al Zahra and the WGC to develop a scheme to promote at shop level collections of mid- to high-end jewellery from manufacturers based in Italy.

Rian Raghavjee of AngloGold commented: "The Middle East region has the highest per capita gold consumption rates globally.

"Our challenge with Al Zahra and WGC is to ensure that gold remains a compelling attraction for these consumers and that it competes more effectively with other modern lifestyle and luxury goods."

Faiz Papadopoulos of Al Zahra said that the project would "definitely improve the consumption of gold in the UAE and in other parts of the Middle East".

According to World Gold Council figures, consumption of the yellow metal in the Gulf region grew by 6.1 per cent to 66.2 tonnes in the first quarter of 2007.
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