2008 was a good year for Dubai’s gold sales

The Emirate of Dubai handled 53 percent more gold in 2008, with trade expanding to a record USD $ 29 billion. The Dubai Multi Commodities Centre (DMCC) also forecast ‘healthy’ exports in 2009 as the crisis spurs demand for the metal as a safe investment haven.

Gold exports from Dubai reached 371 tonnes in 2008, an increase of 29 % compared to 287 tonnes in the previous year, according to statistics released by DMCC. “Export levels will be healthy, driven by investment-led demand in major consuming markets such as India & Switzerland,” said David Rutledge, CEO, DMCC.