Until about 10 years ago, the Gold Souk was the primary justification for Dubai’s nickname 'City of Gold'. Today, it earns the title because approximately 1,200 tonnes of gold trades through Dubai.
This global journey for Dubai began when DMCC was established to enhance commodity trade flows through the Emirate. Examples of innovation since then include the Dubai Gold and Commodities Exchange (DGCX), DMCC Tradeflow, a trade finance product; regional gold options trading; a Shariah-compliant hedge fund product; and the Dubai Good Delivery Standard, the only international standard for 1kg gold bars of .995 purity. DMCC serves the entire gold value chain, from trading to refining to investing.