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UAE’s gold jewellery demand is world’s 5th largest
The UAE remains the world’s fifth-largest in terms of gold jewellery demand despite falling consumption level in the past 12 months as the yellow metal’s rise to all-time highs above $2,400 an ounce this year continues to captivate global markets. With an annual gold jewellery demand of nearly 40 tonnes, the UAE shares the rank with Russia, followed by Saudi Arabia in the 7th position, a research conducted by a team at The Gold Bullion Company reveals. In 2023, total consumption of gold in the UAE reached 39.7 tonnes, down from the 46.9 tonnes recorded in 2022, according to the World Gold Council. “The drop in ... (full story)