2012-05-09goldseek.com

Iranians and Arab Spring countries are buying "massive quantities of gold" in order to protect their wealth from political instability and depreciating currencies.

Iran boosted imports of gold, jewelry and precious metals from Turkey by 3,692% from $13 million in March a year ago to $480 million in March 2012, according to the statistics agency in Ankara April 30 - as reported by Bloomberg.

...

Sanctions aimed at isolating Iran because of its nuclear program, combined with revolutions in the Middle East, have spurred a tripling in the region's purchases of Turkish precious metals and jewels to $942 million in the first three months, from $282 million in the same period last year.


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