Sales of gold, jewellery and diamonds in Dubai reached AED 274 billion last year.
That's an increase of three per cent compared to 2017, according to the Dubai Gold and Jewellery Group.
Meanwhile, a new report from Dubai's Department of Economic Development found that more than 4,000 companies now operate in the gold sector in the emirate.
Indians were the top nationality for investing in the sector, followed by citizens from Pakistan, the UK and Saudi Arabia.
H.H. Sheikh Hamdan highlights economic resilience at Dubai Majlis
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, UAE Deputy Prime Minister and Defence Minister, attended a specially convened Dubai Majlis to discuss strategies to reinforce economic resilience.
Oil sinks 11% as Trump predicts Middle East de-escalation
Oil prices plummeted by more than $10 a barrel on Tuesday after soaring to an almost four-year high in the previous session after U.S. President Donald Trump predicted the war in the Middle East could end soon, lowering expectations of prolonged disruptions to oil supply.
DP World appoints Ahmad Yousef Al-Hassan as CEO and MD for GCC
DP World has appointed Ahmad Yousef Al-Hassan as Chief Executive Officer and Managing Director for the GCC.
Oil prices surge to highest since 2022 at over $119 a barrel
Oil prices surged over $119 a barrel, hitting levels not seen since mid-2022, on Monday as some major producers cut supplies and fears of prolonged shipping disruptions gripped the market due to the expanding US-Israeli war with Iran.
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