The Dubai Multi-Commodities Centre (DMCC) launched Dubai’s first official gold coin as part of the ‘Visions of Dubai’ coin series. The first coin features the image of Dubai’s crown prince, Sheikh Mohammed bin Rashid Al Maktoum, on one side, while the other features the emirate’s sail-shaped iconic landmark, the Burj Al Arab Hotel.

The 22k gold coin series will be produced locally in four different units: 1oz (34 g), ½ oz (17 g), ¼ oz (8.5 g) and 1/10 oz (3.4 g). The first coins are expected to hit the market by September 2007. According to the World Gold Council (WGC), global gold coin sales rose by 16 per cent to 129 tonnes in 2006.