Dubai's 2009 gold imports down 15%

Dubai's gold import volumes in 2009 totalled 576 tonnes, a 15 per cent decline compared to a year earlier, a statement from the Dubai Commodities Centre said on Sunday.
Branded as the city of gold, Dubai has seen weak demand from the gold retail sector over the past year, as the high price of the yellow metal coupled with the economic crisis curbed consumer spending.
In terms of value, gold trade in Dubai stood at $29 billion in 2009, matching the value of trade a year earlier, the statement said.
Gold exports from Dubai were 403 tonnes in 2009, a 9 per cent increase from a year earlier, it added.
 

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