Gold below $1600 spurs record buying National Bank of Dubai

DUBAI (Commodity Online): After Gold prices crashed below $1600/oz last Wednesday, the National Bank of Dubai (NBD) recorded its second-best sales day on Thursday, says Gerhard Schubert who heads the precious metals section.  “I was resigned to the fact that the physical buying in our market (Dubai and UAE in the wider sense) had finished for the year, and then came Thursday, 15th December. We saw excellent buying from customers which reminded us very strongly of the heydays in August/September”, Schubert said in a weekly report.