The central bank raised its gold metal assets last August by AED 805 million, bringing the total value of its gold holdings to AED 2.339 billion, a 56% increase from the balance of AED 434 million recorded at the end of July.
According to data issued by «Central» issued yesterday, this is the largest monthly increase since December 2015, the date of the first disclosure of assets «Central» yellow metal.
Although the Central Bank began to form a balance of gold bullion in its assets as of the end of 2015, these assets are considered to be of little value compared to other assets held by the Central Bank.
The yellow metal jumped 1.4% yesterday after a disappointing report on US private sector employment raised concerns that investors are already worried about slowing growth in the world's largest economy.
Investors selling gold is due to the negative sentiment of investors due to global growth and trade.
Moreover, the statistics issued by «Central» also showed that the total deposits held by individuals in their accounts at local banks (national and foreign) at the end of last August amounted to 446 billion dirhams, compared with 439 billion dirhams at the end of July, an increase of seven billion dirhams during the period Month.
Deposits in bank savings accounts stood at 165.4 billion dirhams at the end of August, compared with 165.8 billion at the end of July 2019, the central bank said.
He explained that the number of checks that were cleared through the Central Bank's system to clear checks using photocopies recorded by the end of last August 17 million checks, worth 805 billion checks, compared with 15.3 million checks at the end of July, which was worth 722 billion dirhams.
The increase is longer
The largest monthly
Since 2015.