Dubai, Aug 6 (IANS) The gold trade in Dubai reached $14.69 billion in the first half of 2009, an increase of 12 percent over the like period in 2008, with the gold imports reaching 300 tonnes, WAM news agency reported quoting the Dubai Multi Commodities Centre (DMCC).
In the first six months of 2009, about 300 tonnes of gold were imported into Dubai, an increase of 13 percent compared to 265 tonnes imported in the corresponding period of 2008. Gold exports from Dubai in the same period reached 213 tonnes, up 19 percent from 179 tonnes in 2008.

India, Switzerland and Iran were top gold importers from Dubai, while India, Malaysia and Switzerland were top gold exporters to Dubai.

Gold price averaged $922 per ounce during the first half of 2009, up from $910 per ounce during the same period in 2008.

David Rutledge, chief executive officer of DMCC, said: “Dubai continues to live up to its reputation as the ‘City of Gold’, as it is one of the few hubs in the world that maintains a healthy growth in gold trade.”