GOLD KEEPS ITS LUSTRE IN DUBAI

By Muin Abdul Majid

DUBAI, Oct 7 (Bernama) -- The volume of gold traded through Dubai for the
first six months of the year held steady at 608 tonnes, with an overall value
of US$21.17 billion, according to the Dubai Multi Commodities Centre (DMCC).

The amount was up 20 per cent year-on-year, reflecting the higher price of
gold, it said, citing import and export data from Dubai Customs.

During January-June 2010, gold imports to Dubai totalled 384 tonnes, up 4.3
per cent or 16 tonnes over the same period 2009.

Meanwhile, gold exports from Dubai fell 6.7 per cent to 225 tonnes,
compared to 240 tonnes the previous year.

This highlighted that the local retail market had also shown a greater
appetite with an increased consumption, according to a DMCC statement.

India remained Dubai's leading import and export partner, with the top
exported item being gold bars and top imported item being gold in
semi-manufactured forms.

-- BERNAMA



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