Dubai Gold Trade Jumps 55 Percent

DUBAI, 25 October 2007 — Dubai Multi Commodities Center (DMCC) announced yesterday that gold trade through Dubai reached $5.23 billion in the third quarter of 2007, an increase of 55 percent from $3.37 billion during the same period in 2006.

In the third quarter of 2007, Dubai imported a total of 174 tons of gold, 47 percent higher than 118 tons in the same period in 2006. During the same period, Dubai exported a total of 68 tons of gold, 28 percent higher than 53 tons in the same period in 2006.

Dubai’s top trading partners for gold include India, Switzerland, Malaysia and the GCC states.