China, DMCC to boost gold trade opportunities

Following the participation of the Dubai Multi Commodities Centre (DMCC) at the recently held (2 & 3 July, 2009) Asia Gold Focus 2009 Conference in Guangzhou, China, where investment strategies for the Dubai gold market was highlighted, it was observed that Chinese gold and jewellery manufacturers are increasingly eager to work closely with UAE based companies. In 2008, China was the world’s largest gold producer, second largest consumer and fifth largest holder of gold reserves. According to Harendra Kailath, Director Gold, DMCC, several Chinese gold refineries have expressed interest in applying for the Dubai Good Delivery standards.