2.2%

Gold reserves rise in October

The gold reserves of the UAE Central Bank grew to Dh1.077 billion in October, an increase of 2.2 per cent over Dh1.053 billion in September, according to a statement.

The rise in the Central Bank’s balance came in parallel with the sharp improvement in the prices of the yellow metal during the past two months when the Ounce Gold Bullion Bar increased to more than $ 1,237 after the strong decline witnessed in September when the prices hit $1,200. (Staff Report)