“About a quarter of all the physical gold traded around the world already passes through Dubai, the commercial hub of the United Arab Emirates, but DGCX, as the exchange is known, is looking to continue expanding this trade, which has grown from $6 billion in 2003 to $70 billion last year, according to data from the Dubai Multi Commodities Centre. This is part of a trend that is seeing the volume of gold passing through established gold-trading venues in the West—London, New York and Zurich—gradually shifting eastward, to Dubai, Singapore, Hong Kong and Shanghai. Souks are still hives of gold-trading activity in Dubai, which boasts around 300 gold retailers.”
http://blogs.wsj.com/moneybeat/2013/10/29/dubai-to-add-spot-gold-contract/
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Yellen's Final Act Is To Ban Wells Fargo From Growing
South Korean court orders Japanese steel company to pay for forced labor in WWII
New York knows where your license plate goes
Benghazi air space shut over security fears: Libya source
TV's Unnatural Monopolies
Young Greeks Helping Each Other to Combat Crisis
Tax Collectors Are Going After Netflix, Airbnb, Uber, Burning Man
Women to assume combat roles in U.S. military
Google wants blimps to bring wifi access to sub-Saharan Africa
Russia warns of ‘war’ if UN plans to cut oil to North Korea are carried out
Ukraine Pledges to Protect Bank Deposits as Kiev Rally Called
TSA's VIPR could be screening you without you knowing it
Dolce and Gabbana jailed over tax evasion
Unidentified detainee mysteriously dies at Guantanamo Bay
Why is Gibraltar a British territory?