Business : Dubai gold trade shines in 2010, deals up at $41.3b

Dubai gold trade witnessed a healthy trend last year as the yellow metal traded through the “City of Gold” rose by 18 per cent to $41.3 billion, according to a study by the Dubai Chamber of Commerce and Industry.

Last week bullion prices touched an all-time high of $1,580.70 an ounce on concern over eurozone debt crisis. Gold price has risen an 11 per cent so far this year.

Despite rising prices gold continues its attraction during 2011 in Dubai. A recent Dubai Chamber study based on the Dubai Multi-Commodities Centre (DMCC) report indicates healthy trend continues in 2011.

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