Dubai’s gold trade increases by 12%

During the first half of 2009, Dubai’s gold trade amounted to $14.69 billion, rising by 12 percent, as compared to the corresponding six months of 2008, reports say. In the said period, gold imports amounted to 300 tonnes, increasing by 13 percent over 265 tonnes of gold imports in the first half of 2008. Dubai exported 213 tonnes of gold, rising by 19 percent over the 179 tonnes of gold exports in the first half of 2008.

The price of gold amounted to $922 per ounce on an average in the said six months of 2009, which was $910 per ounce in the corresponding six months last year. Amongst the major importers from Dubai, India, Switzerland and Iran ranked in the top gold importers’ list. India, Malaysia and Switzerland ranked as the top gold exporters for Dubai.