Monday, February 07, 2005

Significant increase in Dubai gold trade

The Dubai Gold Price is available at the link below:

Dubai Gold Price

Dubai's consumption rose by 10% to 100 tonnes, despite the 12% increase in the year-on-year average price, as consumers demonstrated their belief in gold as an effective investment product.

Colin Griffith, DMCC's Executive Director for Gold and Precious Metals, explained the influencers of this increase 'The substantial increase in overall trade and values is due to a number of factors, including higher international gold prices, increase in business flows – particularly scrap refining and further growth of gold trade with India. The figures confirm Dubai's status as a leading global hub for gold and the city's excellent spread of business partners, trading with 91 countries worldwide, the largest of these being the India, Switzerland, Saudi Arabia, Singapore, Italy, Pakistan, Malaysia and the United Kingdom.'

These impressive figures are expected to increase during the next few years due to the additional trade of kilo bars through the soon to be launched Dubai Gold & Commodities Exchange (DGCX).

Read more here.

Source: By Christine H. Andersen


Anonymous said...

can you please tell me the average price for a 400 ounce 18- 24k gold bars in dubai or a website i can maybe visit to see price ranges

thank you kindly

Anonymous said...

What is an ounce regarding gold 1 ounce eans how much in grams.

Anonymous said...

will the gold price come down in next 5-6 months