World Gold Council (WGC) and Dubai Multi Commodities Centre (DMCC) announce joint gold industry programme

Date Posted:Wed, 27th Mar 2024

World Gold Council (WGC) and Dubai Multi Commodities Centre (DMCC) announce joint gold industry programme

The Middle East is the third largest consumer market for gold after India and China, and the UAE is the fourth largest exporter of gold after Switzerland, the UK, and USA.

 

Recognising the importance of the UAE as a major gold market gatekeeper, the World Gold Council and DMCC have announced a joint work programme which covers a series of collaborative efforts aimed at advancing the gold industry within the UAE. Key initiatives include tackling challenges associated with hand-carried gold, developing an annual training plan for professionals in the bullion industry, formal engagement with bullion banks, developing and deploying the World Gold Council’s retail gold investment principles, and conducting comprehensive gold market research.

 

Andrew Naylor, Head of Middle East and Public Policy, World Gold Council, said: 

“The UAE is a pivotal market for the gold industry, acting as a major hub for trade, investment, and innovation. Through our presence in the Middle East and our collaborative initiatives with key stakeholders such as the DMCC, we aim to enhance the gold market's integrity, transparency, and efficiency. This programme is just the beginning of our long-term commitment to contribute to the integrity of the global gold market and improving the regional gold market."

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