“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:
China “fully prepared” for currency war: central banker
Marijuana stops child's severe seizures
Lead investigator in Oscar Pistorius case is himself facing attempted murder charges
U.S. Treasury to miss deadline on FATCA tax crackdown
Privacy Complaints Mount Over Phone Searches at U.S. Border Since 2011
New European ruling game-changing for U.S. companies
Millions of Americans might need passports to fly domestic in 2016
Taiwanese parents required to stop kids spending time on computers
NSA, Homeland Security issue ‘cease and desist’ to novelty store owner
Russia yet to decide on Cyprus loan extension
Oklahoma prosecutors return $21,227 more to Interstate 40 travelers
US tech firms say they are losing business over NSA surveillance
Fitch ratings agency highlights threat of aging population time-bomb
School boards searching for Obamacare loopholes to avoid paying some benefits
Central bank seeks to rein in Auckland housing market