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Commodities Briefing - Categorized | Bullion/Gold, Trading more

Bullion hub: Dubai’s gold trade exceeds $ 70 bln

Posted on 09 April 2013

The value of gold traded through Dubai reached $ 70 billion in 2012 from just $ 6 billion in 2003 and Dubai has risen as a major global gold and precious metals trading destination, said Ahmed bin Sulayem, executive chairman of Dubai Multi Commodities Center (DMCC).
“About 20 percent of the world’s physical gold imported and exported through Dubai,” he said. Bin Sulayem was addressing the Dubai Precious Metals Conference 2013 hosted by the DMCC. “Demand is still strong, whereas most new firms flock in from the emerging markets in Africa, India and China. We expect to host over 10,000 registered firms by 2015,” said Bin Sulayem……………………………………….Full Article: Source


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