CBUAE gold reserves surged by 34.8 per cent in the first 10 months of 2024
gold reserves
Latest in gold reserves
CBUAE
UAE Central Bank gold reserves reach $5.6bn in May 2024
This marks a 19.7% year-on-year increase from AED17.219 billion in May 2023, the central bank reported
Gold
Gold prices react to US jobs data, prompting doubts on rate hike trajectory
Spot gold was up 0.1 percent at $1,925.49 per ounce in early trading hours in Asian markets on Monday
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
Central Bank of the UAE
UAE central bank’s gold reserve rises by $52.8 million during Jan-May this year
The current total value of the reserve of the yellow metal with the CBUAE is to the tune of AED12.107 billion by end of May, according to apex latest statistics
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
economic slowdown
Gold tops $1,500 as investors seek shelter from gathering storm
Gold has been one of the chief beneficiaries of the turmoil in global financial markets as Washington and Beijing spar over trade
global economy
Central banks load up on gold as demand hits 3-year high
Countries add 374.1 tons of gold in the first six months as Russia and China kept building reserves