Dubai Gold Securities on the go

The Dubai Gold Securities (DGS) have found most of their buyers from institutional investors in the region, senior officials involved in the region’s first Shariah compliant exchange traded fund (ETF) said.

Investment arms of HSBC and Mashreq besides investment banks like Shuaa Capital and other asset managers account for a good chunk of DGS traded so far.

“On the back of increased risk in markets, institutional investors are seeking to increase exposure to gold as an asset class within their portfolio. Institutional demand for the product has been particularly high,” said Sameer Meralli, Director (Marketing) of Dubai Commodities and Asset Management (DCAM).