The UAE’s Gold Sector is Elevating to New Heights

• Gold prices rose 5.4% in H1 2023 and are expected to rise by over 10% through 2023
• Gold reserves for the Central Bank of the UAE (CBUAE) grew 9% (AED 1.46 billion) through the first four months of 2023 and 41% YoY (AED 64.2 billion) from April 2022 to April 2023
• UAE shoppers purchased 9.7 tonnes of gold in Q1 of 2023

Dubai, UAE – 05 September 2023: Bas Kooijman, CEO and Asset Manager of DHF Capital S.A., cites that the price of gold rose 5.4% in the first half of 2023^[1] and it could rise above 10-15% through the rest of the year; if this projection is realized, gold prices would rise by nearly AED 734 per ounce or approximately AED 50 per gram^[2]. Kooijman shares insights on the market’s upward trajectory and why UAE residents can invest with confidence.

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