22.5% annual growth in the “Central” balance of gold at the end of last October

 The UAE Central Bank’s balance of gold rose on an annual basis by 22.5% at the end of last October, according to the latest statistics of the UAE Central Bank.

The data of the statistical bulletin issued by the bank today showed that its balance of the yellow metal reached 14.307 billion dirhams at the end of October 2022, an increase equivalent to 2.63 billion dirhams, compared to about 11.676 billion dirhams in October 2021.

According to the statistics, the Central Bank’s balance of gold increased on a monthly basis by 12.2%, an increase equivalent to 1.56 billion dirhams, compared to its balance of 12.749 billion dirhams at the end of September 2022.

The Central Bank’s balance of gold increased during the first ten months of last year, by 20.1%, or the equivalent of 2.4 billion dirhams, compared to its balance of about 11.913 billion dirhams at the end The year is 2021.

It is noteworthy that the Central Bank’s balance of gold witnessed a remarkable growth during the past years, rising to 12.862 billion dirhams at the end of 2020, compared to 4.044 billion dirhams at the end of 2019, and 1.134 billion dirhams at the end of 2018.

Gold falls within the various assets owned by the Central Bank, and includes funds Liquid, certificates of deposit, and securities held to maturity.

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