JEDDAH: The World Gold Council (WGC) has reportedly suspended its activities in Saudi Arabia, saying that the market has become too weak here and that countries such as China and India are more attractive than the Kingdom for bullion traders.

Gold demand, which dropped in the second quarter of this year, is expected to strengthen by the end of 2011, driven by robust jewelry buying in India and China and recovery in investment demand, senior World Gold Council (WGC) officials said.

SINGAPORE: Spot gold climbed more than one percent to a record high above $1,920 as concerns about a worsening euro zone debt crisis and stalled global growth drove investors out from riskier assets to safe havens, including gold. It was the 12th record