Fed tests gold upleg
Gold’s outlook and fundamentals remain really bullish.
On top of a driving ban and the many other restrictions women in Saudi Arabia endure has been added another deprivation.
UAE-based business site Mubasher reports that the kingdom’s National Committee for Precious Metals and Gems appointed by the country’s chamber of business has decided – after a study of the pros and cons – that women would not be allowed to work in the gold industry.
The Committee found that including women in the gold industry is not feasible, saying that it will limit the gold trade and even be “disastrous” for investments in the gold sector.
The ban includes including work in factories, workshops, and the country’s gold retail outlets. The Middle-Eastern state’s gold shops number more than 7,000 and employs 35,000 people.
Reasons for the interdict centre on worries about security and female safety as in Saudi Arabia, like in most nations, gold workshops and stores are the targets of robbers, the review points out.
The study and findings followed an initiative taken by the Ministry of Labour a few years ago to improve women’s employment rates in the country and boost the Saudization of the kingdom’s labour force.
The vast majority of workers in the gold industry in the country are foreigners.
7 Comments
Brien
Tell me how this kind of discrimination is any different from the Aparthied problem in South Africa when the world boycotted SA until the government fell.
Krusty1234
The investment community must to respond to this archaic expectation by not investing in Saudi gold and only investing in countries that promote equal rights and freedom.
Saudi guru
at least one place in the world they keep their women under control, good work Saudi arabia
smack
Yup! Back between the fist and the stove here too is what I say! Damn those women they pop up all over the place now, like they had the same rights as regular people.
Holli Poni
This is why Australia is called the ‘lucky country’ and I hope it remains that way for some time. Though, the participation rate by females in mining is low (13% overall (approximately) I’ve heard one Qld analyst remark), at least our wonderful ladies in mining are actively encouraged in the industry; whether in operational or trade based vocations.
Saudi Arabia is a wealthy Arab state, but their attitudes belong right back in the ‘feudalistic’ times of old (stone-age even) and really have no place in a progressive society.
Johnny G
I think the Saudis are very afraid of what smart women are capable of and thus,control them vigorously. They are insecure as men. Prehistoric thinking overall.
C.B.
What a retarded country. We are in 2012.