Dubai is advancing efforts to bolster its status as a leading global gold trading hub after foreign gold trade in the emirate reached approximately Dh1 trillion in 2025. This development coincides with notable progress in Dubai’s wider financial markets and services sector, according to government officials.
Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and Chairman of the Higher Committee for the Development of the Economic and Financial Sector, led a committee meeting on October 8 to assess recent economic and financial performance indicators and to review the emirate’s comprehensive gold strategy.
The meeting examined six strategic pillars for the gold sector, focusing on trading, financing, storage, competitiveness, price discovery, and demand in jewellery and retail markets. Data presented at the meeting showed that Dubai’s foreign gold trade increased 60 percent year-on-year, reaching about Dh1 trillion in 2025. Physical gold traded in the UAE amounted to roughly 2,750 tonnes, positioning the country as the second-largest physical gold trading hub worldwide. Officials noted that an estimated 13 to 15 percent of the global gold trade flows through Dubai annually.
The newly proposed Dubai Gold Strategy aims to enhance every stage of the gold value chain, including supply, refining, trading, storage, financial services, pricing mechanisms, digital tokenisation, and end-user retail. To oversee the implementation of this strategy, the committee endorsed the formation of a specialized oversight body. This committee will be chaired by Abdulla Bin Damithan, Chairman of the Ports, Customs and Free Zone Corporation, and will be responsible for developing initiatives, coordinating with relevant stakeholders, and establishing a detailed roadmap for execution.
In addition to gold sector developments, the review highlighted Dubai’s strengthening position in global financial competitiveness. The emirate climbed to first place globally in FinTech according to the September 2026 Global Financial Centres Index, up from fifth place earlier in the year. It also rose to second place worldwide in Professional Services and improved in reputation rankings to sixth place. For the fourth consecutive time, Dubai maintained its top ranking as the global financial center expected to gain significance over the next two to three years.
The Virtual Assets Regulatory Authority reported growth in licensed Virtual Asset Service Providers, reaching 52 firms managing assets totaling Dh28 billion. Meanwhile, the Dubai Financial Market (DFM) reported a market capitalization of Dh993.1 billion by the end of the third quarter of 2026. Average daily trading volumes rose 24.5 percent, with institutional investors accounting for 71 percent of total trading activity. The exchange attracted 55,462 new investors during the first nine months of 2026, with international investors representing over 72 percent of these newcomers.