Brief
Dubai outlines new gold strategy as trade tops Dh1 trillion
Sheikh Maktoum announced a six‑point Dubai Gold Strategy and a new oversight committee.
By Felo News Desk · Published
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, chaired a committee meeting on Thursday to review the emirate’s economic performance and unveil a new Dubai Gold Strategy.
What happened
The meeting examined six proposed strategic directions for the gold sector, spanning trading, financing, storage, competitiveness, price discovery and jewellery‑retail demand. Dubai’s foreign gold trade rose 60 per cent year‑on‑year to roughly Dh1 trillion in 2025, and physical gold traded in the UAE reached about 2,750 tonnes, making the country the world’s second‑largest physical gold hub. Officials estimate that 13‑15 per cent of global gold passes through Dubai each year.
What the reports add
The strategy aims to create an integrated global gold market by linking producers, refineries and buyers across Africa, the Middle East and Asia. It also seeks to strengthen Dubai’s role in gold financing, including clearing, collateralisation, hedging and institutional trading, while expanding secure storage, improving traceability and developing platforms for price discovery.
What was said
Sheikh Maktoum said, “Guided by the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, we continue Dubai’s journey of economic diversification, competitiveness and sustainability.” He added, “We continue to reinforce the emirate’s standing as a global hub for business, finance and trade by developing more competitive economic and financial sectors that are better capable of attracting investments, talent and global companies.”
How it came about
The committee approved the creation of a new oversight body chaired by Abdulla bin Damithan, Chairman of the Ports, Customs and Free Zone Corporation, to implement the strategy, coordinate initiatives and set execution timelines. The move follows Dubai’s recent efforts to boost its gold market, including price fluctuations reported in earlier Felo articles on gold pricing trends.
Key facts
- Dubai’s foreign gold trade reached about Dh1 trillion in 2025, a 60 % YoY increase. (gulfnews.com)
- Physical gold traded in the UAE amounted to roughly 2,750 tonnes, placing the country second globally. (gulfnews.com)
- The proposed Dubai Gold Strategy covers six directions: trading, financing, storage, competitiveness, price discovery and jewellery‑retail demand. (gulfnews.com)
- A new committee chaired by Abdulla bin Damithan will oversee implementation of the strategy. (gulfnews.com)
Sources
- [1] gulfnews.com — originally reported as “Dubai Strengthens Global Gold Hub Role as Trade Surpasses Dh1 Trillion”
