Dubai: H2 Gold Imports Declining

Gold imports are expected to somewhat decline in the second half of the year, according to the Dubai Gold and Commodities Exchange (DGCX). Gold exports however, are expected to rise.

Dubai's gold imports fell 14.7 percent in the second half to 243,069 kg against the same period last year, while exports rose 27.4 per cent to 162,067 kg. Dubai imported 521,765 kg of gold in 2005, exporting 223,303 kg.

The gulf emirate is a hub for Gulf and Mid-East gold trade as well as a major consumer market of gold jewelry.