Set a new record at the end of June 2020, with an annual increase of 27.6%
The "central" balance of gold jumps to 6.58 billion dirhams
The bank’s balance of gold bars increased by 148 million dirhams last June. Archives
The Central Bank continued to raise the value of its gold holdings to a new record level at the end of June 2020, reaching 6.58 billion dirhams, an increase of 6.3% compared to December 2019, while the annual growth rate reached 27.6%, according to the latest statistics issued by «the Central Bank. ».
The bank’s move in this regard comes in conjunction with the continuous record price jumps achieved by the price of the yellow metal, since the beginning of this year, which pushed the price of an ounce to cross the $ 2000 barrier in the global spot market for gold, before it was exposed to reaping natural profits that brought it back to 1964 dollars yesterday, Central Bank statistics showed that its balance of gold bullion increased by 148 million dirhams during June 2020, compared with May of the same year, while the value of the increase since the beginning of this year amounted to 2.536 billion dirhams and about 5.333 billion dirhams at the annual level.
The index of the movement of the value of the cumulative balance of the Emirates Central Bank of gold shows a continuous increase since the beginning of this year, as it rose to 5.951 billion dirhams in the first quarter of the year, and then continued its upward path, reaching the level of 6.377 billion dirhams in April, before it jumped to 6.432 billion dirhams in April. May of the same year, and closed after that at the new balance recorded last June.
It is noteworthy that the value of the balance of the "central" gold bullion reached 1.015 billion dirhams at the end of 2016, then increased to 1.152 billion dirhams at the end of 2017 and to about 1,134 in 2018, according to official statistics of the bank.
The cumulative balance index of the "central" gold shows a continuous increase since the beginning of 2020.