AED 1 trillion — Dubai’s gold trade

Summary

• Dubai's foreign gold trade rose 60% to about Dh1 trillion in 2025.
• A committee under Abdulla bin Damithan will implement the emirate's new gold strategy.
• Between 13% and 15% of globally traded gold passes through Dubai each year, the government said.

The latest

Foreign gold trade in Dubai climbed 60% year-on-year to roughly Dh1 trillion in 2025, figures reviewed by the Higher Committee for the Development of the Economic and Financial Sector showed. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum chaired Thursday's meeting, which endorsed six strategic directions for the gold sector and approved a dedicated body to turn them into implementable initiatives.

Details

• The headline figure: Dubai's foreign gold trade reached about Dh1 trillion in 2025, a 60% annual increase, according to figures presented to the committee. Physical gold traded across the UAE hit around 2,750 tonnes, ranking the country second globally among physical gold trading hubs, the government said.
• The global share: An estimated 13% to 15% of all gold traded worldwide passes through Dubai annually, according to the government. That share underpins the emirate's hub status and sets the baseline the proposed strategy is designed to expand across the value chain.
• The six directions: The proposed Dubai Gold Strategy spans supply, refining, trading, storage, financing, pricing, digital tokenisation and retail. Its first direction targets an integrated global trading market with deeper liquidity, connecting producers, refineries and buyers across Africa, the Middle East and Asia.
• Financing and storage: The strategy proposes building Dubai into a gold financing centre, naming clearing, collateralisation, hedging and institutional trading as opportunities. Other priorities include expanding secure storage, improving traceability and transparency, and developing platforms and instruments for price discovery.
• The new committee: The meeting approved a committee chaired by Abdulla bin Damithan, Chairman of the Ports, Customs and Free Zone Corporation, to oversee implementation. It will identify initiatives, define roles and partners, propose a governance model and set execution timelines. No completion date was announced.
• The stated intent: The government said the approach is meant to move the strategy from broad directions toward initiatives that can be implemented, while encouraging public-private partnerships. Sheikh Maktoum said Dubai would keep developing sectors capable of attracting investment, talent and global companies.
• Rankings: Dubai ranked first globally in FinTech in the Global Financial Centres Index published in September 2026, up from fifth in March. It rose to second in Professional Services from fourth, and to sixth in reputation from eighth.
• Virtual assets: Licensed Virtual Asset Service Providers under the Virtual Assets Regulatory Authority rose to 52, with assets under management of Dh28 billion. Trading volumes among licensed providers reached about Dh7.43 trillion over the past 12 months, according to the government.
• The exchange: Dubai Financial Market capitalisation stood at Dh993.1 billion at the end of the third quarter of 2026. Average daily trading values rose 24.5%, institutional investors made up 71% of trading value, and 55,462 new investors joined in nine months, 72.1% of them international.
• The ecosystem: The precious metals, gemstones and diamonds ecosystem at the Dubai Multi Commodities Centre counts more than 1,500 member companies, and DIFC has over 10,000 active registered firms. The UAE Good Delivery Standard and Bullion Market Committee date to 2021; the Dubai Gold District, launched in 2026, hosts over 1,000 retail traders.

Between the lines

The emphasis on financing, clearing, collateralisation and price discovery signals an attempt to capture value beyond physical throughput. Dubai already moves 13-15% of global gold, but the six directions concentrate on the financial layer above that flow. Pairing the gold file with FinTech rankings, Dh28 billion in virtual asset holdings and institutional dominance on DFM points to one pitch: a physical hub seeking financial-centre pricing power.

What's next

Watch for the implementation committee's roadmap, governance model and execution timelines under Abdulla bin Damithan, plus the initiatives it names. The next Global Financial Centres Index edition and fourth-quarter DFM capitalisation figures offer the nearest measurable checkpoints.

Source: Gulf News, Dubai Media Office, Emarat Al Youm