The gold balance at the Emirates Central Bank rose to a new record by the end of last April; Achieving 57.7% growth.

According to the Emirates News Agency, the value of possession of gold in the center reached 6.377 billion dirhams, an increase of 2.333 billion dirhams during the first four months of the year 2020 compared to its balance in December From the year 2019.

The latest statistics released by the Central Bank today show that its balance of gold bars increased by a monthly rate of 7.1% and by 426 million dirhams during April of this year compared to The cumulative balance recorded in March of the same year, amounting to 5.951 billion dirhams.

The continuous increase of the central bank balance of the yellow metal reflects its continuation in maintaining the approach it started during the past five years and its frequency has increased with the beginning of this year.

Gold prices have witnessed a significant increase during the past two years in light of the great demand for possession by institutions in all countries of the world, which raised the price of an ounce / ounce / by more than 45%.

The updated data on the global market indicate that the price of an ounce exceeded 1747 dollars, amid expectations that the price will rise during the current year to higher levels in light of the institutions resorting to holding it as a safe investment. < / p>

The Emirates Central Bank was back to form a stock of yellow metal at the beginning of the year 2015 after he came out of the lists of the World Gold Council for gold reserves with banks in the world and this effect of selling All property is yellow metal earlier on that date.

It is noteworthy that the value of the central bank balance of gold bars reached 1.134 billion dirhams at the end of 2018 before it increased to 4 billion dirhams at the end of 2019, according to what Showed by the official statistics of the bank.