Elder of Ziyon: Gold boom in Gaza

Gold boom in Gaza

From Al Arabiya: Gaza's borders are closed and its economy in shambles, but the glittering alleys of the territory's centuries-old gold bazaar are packed with young brides to be. The market has experienced an unlikely renaissance in recent years as Gaza's Hamas rulers have championed weddings and Israeli closures have crippled the local economy, making gold an attractive investment. "Not only have we not been hurt by the Israeli blockade, but our business has actually gotten better," gold merchant Iyad Basal says as people cram into his crowded family-run shop. "We have not stopped working since the blockade because the gold comes to us through smuggling and Hamas encourages marriage," he adds. Israel and Egypt have largely sealed Gaza's borders since Hamas seized power in June 2007, but some merchants have survived and even thrived by importing products through smuggling tunnels beneath the Egyptian border. Others have jewelry brought in through the Erez pedestrian crossing with Israel, which is usually open to foreign journalists, aid workers and Palestinians with special permits. Hamas has encouraged marriage by holding mass weddings, running a matchmaker service for war widows and other poor girls and giving financial support to thousands of young men hoping to settle down. Hassan al-Juju, a judge in the Islamic family courts run by the group, says the rate of marriage in 2009 was higher than any year in the last decade.

Elder of Ziyon: Gold boom in Gaza