Dubai Q4 Gold Trade Rises Sharply in Value and Volume
January 27, 08In 2006, Dubai's gold trade was estimated at $14.75 billion, up from $10.73 billion in 2005.
“Historically, gold has always been seen as a source of lasting value, and this is particularly true of the countries in the Middle East and the Indian subcontinent,” said DMCC executive chairman, Ahmed bin Sualyem.
“Ongoing investor demand from across the world and global concerns about currency and inflation underline the nature of gold as a safe investment,” added Ian MacDonald, executive director of DMCC’s Gold & Precious Metals.
The DMCC, a strategic government initiative rated 'A' by Standard & Poor's, integrates the refining, manufacturing and trading of gold in Dubai, as well as introducing the trading of other precious metals such as platinum, palladium and silver. DMCC is facilitating the development and expansion of the regional precious metals market.