The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Wednesday, 29th April 2009 (650 views)

The gold industry in Dubai is in a strong position despite the current global economic crisis, an expert has argued.

Speaking at the inaugural Dubai Multi Commodities Centre Gold Convention, executive chairman of the organisation Ahmed bin Sulayem explained that low interest rates and the continued attempts of governments to boost economies around the world are helping to maintain the precious metal's "safe haven" image.

"When compared to mainstream financial instruments and the performance of other commodities, gold's importance as an alternative store of wealth continues to excel," he stated.

Future prospects for gold in the UAE are also being supported by the current financial conditions, he added, noting that the event - which took place at the Atlantis the Palm hotel - has proven "valuable" in planning a growth strategy for the gold sector.

In related news, Darren Heathcote of Investec Australia recently told Reuters that the current global health concerns could help to increase gold's popularity among investors.

 

« Back to Gold News stories