The UAE is the second largest exporter of gold to India, after Switzerland
gold prices
Dubai
Dubai gold: $75bn sector shines with new groups
Dubai Chamber of Commerce introduces business groups for gold trade sector
Gold
2023 is already showing us why gold will reign
Global economic uncertaintiy is positivity for gold
asset class
Gold, silver: Best investments of 2023, says expert
Global crude oil market is projected to remain tight but balanced in 2023, with Brent price averaging $90 per barrel for the year
Abu Dhabi
Private office of Abu Dhabi royal family member backs startup LumiShare in $3.2mn funding
Significantly, the funding deal comes amid tightening of investments by venture capitals and private equities in view of serious concerns about startups’ ability to generate profits from operations
Blockchain
Digital gold: Dubai puts precious metal on blockchain network
Buying and selling digital assets of gold will be possible in Dubai
Gold
Big, fat Indian weddings to push up India’s gold imports from UAE, other sources
As many as 3.2 million weddings are estimated to take place in India between mid-November and mid-December, driving up demand for the yellow metal in a big way
Gold
Central banks push demand for gold to pre-pandemic levels
Global demand for gold has gone up 28% year-on-year
commodity trading
Dubai’s discount gold attracts Indian investors for Diwali amid global price slump
Indian expats prefer buying gold from the UAE, as the country has higher standards and tax-free rates
bilateral cooperation
UAE-India gold trade could take hit following import duty hike, analysts say
The move could have implications for UAE-India gold trade despite the duty safeguards under the recently signed bilateral economic partnership agreement
Ahmed Abdulrahman Al Jarman
Stock markets react to attack on nuclear plant while UAE calls for de-escalation of the Russia Ukraine war
Ukrainian officials say Russian troops have shelled Europe’s biggest nuclear plant as the conflict deepens, while the UAE calls for a return to talks and a diplomatic solution
Bitcoin
Crypto crashes and stocks fall while oil, gold and bonds jump after Russia’s Putin announces Ukraine military action
Russia’s state-run newswire TASS said President Vladimir Putin will conduct a military operation in eastern Ukraine, the announcement hit global markets
Bullion Exchange
India’s proposed import gold exchange regulation plan faces scepticism from traders, experts
The move on the international bullion exchange by the South Asian country will have a major bearing on the UAE, which is India’s major trade partner for the yellow metal – for both exports and imports
economic outlook
Why safe havens are in vogue
For sure, interest rates are still well anchored at low levels and supporting valuations, but a twitchy Fed on the move towards tapering and increasing worries over growth and supply constraints are acting as increasing headwinds to more gains
economic outlook
Fed won’t be tempted to rein in stimulus yet, but worries persist
The headline non-farm payrolls number came in above expectations, printing a very solid 850,000 new jobs versus analyst expectations of 725,000
commodity trading
Gold remains an integral asset in a diversified portfolio
Gold was one of the best performing major assets in 2020, breaking through $2,000 an ounce for the first time in history in August and returning 25.1 percent for the year, the highest return in a decade
bond yield
Boom time in the US
This year’s sharp rise seen in bond yields has slowed for now as investors get to grips with the potential strength of the economic rebound and the ensuing implications for central banks around the world