One of the most noteworthy facts about the gold market in 2012 was undoubtedly the staggering amounts of gold imports. As reported numerous times on this website, China imported more than 800 tonnes of gold from Hong Kong. To get the real amount of gold that China has added to their reserves, one should add China’s own production and their unofficial imports.
Today, another astonishing figure hit the wires. This time it is Dubai who announces a staggering $ 70 billion of gold traded in their Dubai Multi Commodities Centre in 2012. Bullionstreet reports today:
“Analysts said Dubai became one of the world’s top gold destination in the last decade since then hundreds of gold trading, refining and jewellery manufacturing companies have moved to the emirate. Dubai has positioned itself as a global hub for the gold trade with the DMCC and its Gold and Commodities Exchange at the heart of operations.”
Read the complete article at Gold Silver Worlds here.
Please Note: This article is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it.