According to the Emirates News Agency, the central bank’s gold balance continues to record levels since the bank’s return in 2015 to the formation of reserves of yellow metal.
The central bank’s continued increase in its possession of gold coincides with the rise in its price globally in light of the fact that many international institutions have resorted to its possession, which prompted the ounce to exceed the $ 1600 barrier with a growth exceeding 28% from the beginning of the year 2019 until the date of March 25, 2020.
According to the statistics of the Central Bank, its gold balance has witnessed a continuous rise during the past two years, reaching 1.134 billion dirhams at the end of 2018 and rose to 1.25 billion dirhams during the first half of 2019 and rose to 2.7 billion dirhams in September of the same year before it reached 4.04 billion AED at the end of 2019.
