The value of gold passing through Dubai in 2013 increased to USD 75 billion, up by USD 5 billion from the previous year, making it the global bullion hub.
According to the Dubai Multi Commodities Centre (DMCC), during the first five months of the year, trade volumes of rough diamonds increased by 13 per cent to 63 million carats.
The Dubai Diamond Exchange (DDE), a DMCC platform hosted the first tender of Zimbabwe rough diamonds held in Dubai in March demonstrating a trend of commodities reaching buyers directly from mines via tender and auction processes.
Dubai has become the gold bullion hub with 40 per cent of the world's gold passing through the emirate.
The DDE hosted a further 11 diamond tenders featuring polished and rough diamonds to June 30. Rough diamond tenders included goods from most major producing countries like Zimbabwe, Angola, South Africa, Guyana, Russia and DRC.
DMCC announced that it registered 1,027 member companies in the first six months of 2014, bringing the total number of companies operating at the DMCC Free Zone to over 8,865, a 30 percent increase compared to the same period in 2013.
Ahmed Bin Sulayem, Executive Chairman, DMCC, said, "DMCC continues to attract members at an unprecedented rate and we are proud of the ever increasing contribution to Dubai's overall economy."
DMCC's commodity trade facilitation activities were also supported by numerous signature events. In March 2014, DMCC and the GJEPC hosted the Global Gem and Jewellery Fair (GGJF), a B2B platform, for the first time in Dubai.
The fair attracted a record 131 exhibitors from India and Dubai and was visited by more than 1,600 industry participants from across the globe.
