Editor-in-Chief's Letter

Why Dubai still matters in the gold Bullion market When people talk about precious metals in the Gulf, Dubai almost always comes up first, and for good reason. The city is one of the world’s most important physical trading hubs for gold bullion, linking producers, refiners, traders, and end markets across Asia, the Middle East, and Europe. DMCC says the UAE, through Dubai, is the world’s second-largest physical gold trading hub after Switzerland, while the UAE’s foreign trade in precious metals reached nearly AED 625 billion in 2024, up 27% year on year and 79% in two years. That scale matters because it reflects a market built on logistics, regulation, and liquidity. Gold bullion and the wider precious metals market in Dubai The broader market picture is also supportive. At the 2025 Dubai Precious Metals Conference, Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, said the UAE recorded more than USD 186 billion in precious metals trade in 2024, with gold making up a major share of that total. DMCC states that it now has more than 1,500 member companies active across precious metals, stones, and diamonds, which helps explain why Dubai remains such an important hub for refining, manufacturing, trading, finance, and re-export. For investors, that depth matters. A gold bullion market becomes more attractive when…