UAE: Citizens sell jewelry to buy property

Citizens in the United Arab Emirates have started selling jewelry to pay off debt and buy property. According to a report by the Khaleej Times, the price of gold fell sharply after a record high, while long queues of sellers formed in the Dubai Gold Souk. The report said that after the prices of gold and silver in the United Arab Emirates reached a record high and then suddenly decreased, a large number of citizens and investors sold their jewelry and metals.