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  • UAE Central Bank’s gold reserves increase by 7% year-on-year

    Thursday, April 4, 2024

    Abu Dhabi, April 4, 2024 - According to the latest statistics released by the Central Bank of the United Arab Emirates, as of the end of January 2024, the bank's gold reserves increased by 7% compared with the same period last year, reaching 17.921 billion dirhams. . The data reflects a rise in gold reserves of more than Dh1.16 billion from Dh16.758 billion in January 2023.

    Although the gold reserves in January declined by approximately 1.25% compared with the AED 18.147 billion in December last year, in the long run, the UAE Central Bank’s gold reserves have shown a significant growth trend. Gold reserves have increased to AED 12.862 billion at the end of 2020, from AED 1.134 billion at the end of 2018 and AED 4.044 billion at the end of 2019.

    As part of the central bank's asset allocation, gold forms the bank's asset portfolio together with diversified assets such as cash, certificates of deposit, and securities held to maturity. This strategy reflects the central bank's long-term commitment to asset diversification and sound management.

    Source: https://www.wam.ae/zh/article/13uk19z-%E9%98%BF%E8%81%94%E9%85%8B%E4%B8%AD%E5%A4%AE%E9%93%B6%E8%A1%8C%E9%BB%84%E9%87%91%E5%82%A8%E5%A4%87%E5%B9%B4%E5%A2%9E7

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