GOLD IN DUBAI

By Admas
Gold has remained a preferred investment through the economic downturn and has continued to attract capital flows given a climate of uncertainty and investor appetite for a US dollar and inflation hedging tool. This is evident in gold’s third quarter performance, which reflects continued flows into gold investment products, including ETFs. In the Middle East, the investment category has grown steadily on a sequential basis.
Trading in Dubai Gold Securities gathered pace in the three months ending 30 November 2009 with 53,190 shares traded during that period compared with a total of 27,691 shares in the first six months after its launch at the beginning of March 2009, representing an increase of 92%. Some 40,668 shares were traded in November alone with a total value of US$4.57 million.
The webinar, on December 16 at 2pm Dubai time (10am GMT), will feature a presentation by Rozanna Wozniak, Investment Research Manager, World Gold Council, on the GCC’s leading business news portal - ArabianBusiness.com. Participants in the webinar will have the opportunity to obtain further information by posting questions for Wozniak, following the presentation.

Commenting on the initiative, Grant Collins, Senior Managing Director, Dubai Commodity Asset Management, said, “Investors continue to appreciate the benefits that exposure to gold brings to their portfolio and we’re delighted to be able to provide them, in association with Arabian Business, an insight into the factors driving the metal’s recent performance as well as the ability to interact with such a respected analyst.”