JEDDAH/MAKKAH – Haj pilgrims buy an estimated 25 percent of the gold and jewelry sold in Saudi Arabia each year, according to an official at the Council of Saudi Chambers Friday. A Saudi economic newspaper quoted Kareem Al-Anzy, the chairman of the National Committee for Precious Metals and Gems at the Council of Saudi Chambers, on its website as saying “the majority of pilgrims' purchases are of golden artifacts, while purchases of jewelry are few.” He added that some of those who visit Saudi Arabia during the Haj season bring fake gold artifacts, but this rarely happens. The counterfeiters rarely pass them by the local shopkeepers who have good knowledge of precious metals, he added. The smugglers try to sell their fake gold and jewelry directly, both to Saudis and visiting pilgrims. For many pilgrims thronging Makkah's streets, the perfect souvenir of their trip is that most glittering of commodities: gold. For many pilgrims, they want to commemorate their journey with keepsakes or gifts for relatives that carry a special religious significance. Pilgrims also find the gold jewelry to be cheaper, better quality and more elaborate than what is available at home, creating a thriving annual market for the precious metal. “The designs are beautiful. Everything is beautiful. I am confused which ones to pick,” said Ijlal Suleiman, 35, from Sudan. But after bargaining with a gold salesman, she decided to move to the next shop to sample other designs. Dozens of gold shops lie just outside the Grand Mosque, and their shelves and windows sparkle with bracelets, necklaces, rings, earrings, lockets and chains engraved with traditional Middle Eastern and Indian designs. Prices of unworked gold are similar to those in Dubai, a regional jewelry hub, with 24-carats going for 204 UAE dirhams ($55.54) a gram in the emirate, according to www.uaegoldpricetoday.com, and SR215 ($57.33) in Makkah, said a shopkeeper. Most of the jewelry is manufactured in Jeddah from 21-carat gold, while pieces with Indian designs are imported through Dubai, said Ali Abdullah, 35, a Saudi who has been working in a gold shop in Makkah for 10 years. “The gold sold in Makkah is pure and not tampered with,” he said. “The Saudi gold is the best in the world. Its quality is high.” Unlike the white gold studded with diamonds and precious stones on display in Dubai's glitzy shopping malls, gold in Makkah's markets hardly has any additions which is more attractive to customers who buy it as an investment. “The gold here is good in terms of its weight and manufacturing,” said Mohammed Idrisur Rahman, 57, a lawyer from Bangladesh, as he bought two lockets for his daughter and daughter-in-law. “It is solid gold and the price is good and it's bought from a holy place.” “Gold is good, it's better than buying fabrics and clothes,” said Haj Namen, 47, from Iraqi Kurdistan after buying $2,450 worth of gold for his wife at home. “If you are away from your wife for a month, you have to get her some gold,” said Najem, who has performed Haj consecutively for the past 12 years as part of his job as a tour operator. – SG/Reuters
