The UAE Central Bank balance of gold bars jumped by 31.3% to reach 5.31 billion dirhams in January, compared to 4.04 billion dirhams in December 2019. < / p>
According to the Emirates News Agency, this is the highest monthly increase in the balance of the Central Bank of gold for several months, in a step that reflects the high trend towards increasing its possession of the yellow metal.
The significant increase in the central balance of gold came in conjunction with the rise in the price of ounce / ounce / globally to about 1650 dollars, achieving gains of more than 32% since the beginning of the year 2019.
The majority of forecasts issued by international investment institutions indicate that gold will continue to rise during the year 2020, which encouraged its possession to achieve the greatest possible gains.
Returning to the details of the central bank’s gold balance, the figures showed that the value of its holdings increased over the past months, reaching 2.71 billion dirhams in September 2019, before being raised to 3.63 billion dirhams in November of the same year.
The balance of the central bank of gold bars reached 1.134 billion dirhams at the end of 2018, according to the statistics of the central bank.
It is noteworthy that the central bank has returned to the formation of gold stocks since the year 2015, after it came out earlier from the lists of the World Gold Council for gold reserves with banks in the world after the sale of all its ownership of the yellow metal.
