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“Gold prices surged to an all-time record high during the first quarter of 2008 leading to a significant inflow of gold scrap into
The upbeat trade figures were announced amid reports of prolonged sales slump for
According to Lama Al Saheb, Head of Marketing, World Gold Council, Middle East, gold jewellery demand in the UAE dropped from 99.8 tonnes in 2007 to 93.3 tones last year although there had been a 32 per cent increase in investment demand of gold —from 7.5 tonnes in 2007 to 9.9 tonnes.
DMCC data shows that the total value of the gold traded through
“The figures for 2008, demonstrate the emirate’s increasingly important role as a centre for the regional and global gold trade,” he added. “Despite expected extremely challenging international financial conditions this year,
issacjohn@khaleejtimes.com
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