Dubai's Higher Committee for the Development of the Economic and Financial Sector, chaired by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, met this week to review the emirate's latest economic and financial performance indicators, with gold trade emerging as a standout figure.
Foreign gold trade in Dubai reached close to Dh1 trillion in 2025, a 60 per cent jump compared with the previous year. In physical terms, roughly 2,750 tonnes of gold changed hands in the UAE, placing the country second globally by that measure. Officials estimate that between 13 and 15 per cent of all gold traded worldwide now passes through Dubai at some point, a share that underlines how central the city has become to the global bullion trade.
To build on that position, the committee unveiled a six-pillar Dubai Gold Strategy: developing integrated global gold trading markets, strengthening gold financing capacity, expanding secure storage infrastructure, improving traceability and transparency of transactions, building price-discovery platforms, and reinforcing the emirate's position in jewellery and retail. A dedicated implementation committee, chaired by Abdulla bin Damithan, has been formed to carry the strategy forward.
The same meeting also reviewed Dubai's virtual assets sector. The number of licensed Virtual Asset Service Providers under the Virtual Assets Regulatory Authority (VARA) has climbed to 52, with assets under management now standing at Dh28 billion. Trading volumes handled by these providers reached Dh7.43 trillion over the past 12 months.
Taken together, the figures point to Dubai pursuing parallel growth tracks in a centuries-old commodity and a distinctly modern asset class, with officials signalling they intend to keep both momentum lines running through the strategy rolled out this week.