By Abdul Muin Majid
DUBAI, March 9 (NNN-BERNAMA) — The total value of gold traded through Dubai stood at 29 billion USD in 2009, matching the value of gold traded in 2008, according to official figures from the Dubai Multi Commodities Centre Authority (DMCCA),
A total of 576 tonnes of gold was imported into Dubai last year compared with 674 tonnes in 2008. In the same year, gold exports from Dubai increased 9.0 per cent to 403 tonnes from 371 tonnes in 2008.
India continues to be Dubai’s top gold trading partner, signifying the emirate’s role as a gateway to the gold trade in the Indian sub-continent, the DMCCA said in a statement here Monday.
DMCCA Executive Chairman Ahmed bin Sulayem described as impressive Dubai’s performance in the gold trade given the tough economic conditions last year and the resulting impact on the gold trade globally.
He said the value of the gold trade in the emirate had increased six times since 2001.
The statement added gold prices broke the record-high level of 1,200 USD per ounce in 2009 before averaging 973 USD per ounce.
More than 130 countries were Dubai’s gold import partners last year. — NNN-BERNAMA
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