Dubai Multi Commodities Centre (DMCC) announced today that gold trade through Dubai reached US$5.23 billion in the third quarter of 2007, an increase of 55 per cent from US$3.37 billion during the same period in 2006.
In the third quarter of 2007, a total of 174 tonnes of gold was imported into Dubai, 47 per cent higher than 118 tonnes in the same period in 2006. This is the highest third quarter imports recorded in the last seven years. During the same period, a total of 68 tonnes of gold was exported from Dubai, 28 per cent higher than 53 tonnes in the same period in 2006.
Dubai’s top trading partners for gold include India, Switzerland, Malaysia and the GCC states. India and Switzerland were top importers from Dubai and India, Australia, Malaysia, USA and Switzerland were top exporters to Dubai.
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