CCTV9英语新闻：迪拜的目标是抓住世界黄金业务39% 2020

 

One of the world’s largest gold refineries is being built on the outskirts² of Duba and when it’s completed next year, the $60 million U.S. dollar refinery³ may help shift the balance of power in the world’s gold industry.

 

Nearly 40 percent of the world’s physical gold trade passed through Dubai last year but its refining strength remains⁴ weak, according to the Dubai Multi Commodities Centre Switzerland dominates that aspect of the sector⁵ and refines about 70 percent of the world’s gold.

 

The refinery is expecting that gold demand in Asia will continue to grow in the future. But that expected growth isn’t a sure thing. India, for one, imposed a record 10 percent import tariff⁶ on gold in a bid to reduce its current account deficit⁷. China’s gold imports, meanwhile, fell by a third in the first quarter.

 

Kaloti said he sees little risk of a long-term interruption to growth as his firm’s precious metals output and trade have improved 25 to 35 percent annually⁸ for the past 25 years.

 

Another source of frustration⁹ is endorsement¹⁰. The London Bullion¹¹ Market Association runs a Good Delivery List of certified¹² refineries. Some feel the system favors Western companies. That could change, though, with Dubai’s refining capacity expansion and developments in exchange based trading. Dubai’s proximity¹³ to the growing economies in the east also would put it in a strong position to challenge Europeean dominance.

 

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