(Kitco News) – Asian demand has transformed the gold market this year, driving prices to record highs. While the market has recently retreated from those highs, Asia’s influence in the marketplace is expected to grow, according to the latest report from the Dubai Multi Commodities Centre (DMCC).
The DMCC highlighted that Dubai and the United Arab Emirates are uniquely positioned to serve as an important bridge between East and West. According to the report, the DMCC envisions the start of an “Asian Century” for gold, with a focus on developing a new gold economic corridor among BRICS nations, including the UAE.
“In recent years, we have witnessed historic shifts in the precious metals market, driven by Western sanctions that have forced record gold buying by central banks and led many countries to rethink their reliance on the US dollar,” said Ahmed Bin Sulayem,
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