UAE playing bigger role in gold ouput, refining

A special edition of the Future of Trade report highlighted major shifts in the global gold trade, redicting an Asian Century’ for precious metals

- Nandini Sircar

Dubai is increasingly establishing itself as a global centre for gold smelting and refining, with plans in motion to expand the UAE's network of gold and silver refineries. This strategic move aims to strengthen the country's economic infrastructure and enhance its position on the global stage.

Industry experts pointed to several key factors driving the UAE's rise in the global precious metals market: its strategic geographic location, state-of-the-art infrastructure, and strong regulatory framework. These elements are helping bridge the gap between Eastern and Western markets, positioning the UAE as a pivotal player in the global gold trade.

A special edition of the Future of Trade report recently highlighted significant shifts in the global gold trade, predicting the emergence of an "Asian Century" for gold. The report also forecasts the creation of a new gold economic corridor among BRICS nations, including the UAE, offering a viable alternative to traditional gold trading hubs.

This initiative is expected to reshape the global gold trade and further cement the UAE's role as a key hub in the precious metals industry.