Huge sums of buyers from different countries come down to Dubai to get their own piece in the Gold trading market which has taken up over 20% from the price of Gold.
Reports and official data from last month are yet to be released this time next year.
Jeffrey Rhodes, the global head of INTLFC Stone says "I am certain that when the customs data comes out they will show that April was one of the busiest months ever for gold imports into Dubai.”
The managing director of Kaloti Gold in Dubai says the refinery branch in Sharijah is always working 24 hours a day and throughout the week and the amount of gold refined at the branch is up to 295%.
According to Mr El Mdaka buyers from Saudi Arabia, Kuwait and Bahrain are amongst the most prolific customers.
Dubai have a built a huge market interest towards the global gold trade.
With the huge increase in demand for gold in smaller bars and coins is also another reason for the massive increase in the Dubai gold market.
The Dubai Multi Commodities Centre (DMCC) has created a brand called the Dubai Good delivery standard which assures the purity of all kilo bars.
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