DMCC, the world’s leading Free Zone for commodities trade and enterprise, held the eighth edition of its annual industry-leading Dubai Precious Metals Conference in Dubai, welcoming around 300 industry experts to discuss key factors and opportunities shaping the precious metals market, says a press note from DMCC.
Gautam Sashittal Image credit: DMCC
Inaugurating the conference with theme ‘Unlocking Growth in Global Precious Metals’, Gautam Sashittal, CEO, DMCC said, “Global economic growth is slowing, trade conflicts persist, and recent geopolitical events have generated widespread uncertainty in markets. As an industry, we must rise to the challenge through being innovative, and by exhibiting a willingness to change, adapt and evolve.”
The keynote speech was delivered by H.E. Juma Mohamed Al Kait, Assistant Undersecretary, UAE Ministry of Economy, who said: “The UAE accounts for about 14 per cent of the world's gold trade, and Dubai, in particular, is rising through the ranks as a purchase and investment destination as it accounts for 20 per cent of world sales of precious metals. DMCC’s commitment to creating a diverse and robust trading environment aligns with the UAE’s mission to be a diversified economy and promote economic growth and development.”
During the discussion around ‘Mining and the Return of Hedging’, experts gauged the current mindset of mines in terms of whether or not to hedge in the wake of rising nominal dollar interest rates.
The conversation then moved on to the impact that emerging technology has on the precious metal industry; Central Banks Approach to Gold; Relevance of jewellery in the changing landscape; Opportunities and Challenges in White Metals, Price outlook and so on.
The conference was followed by a gala dinner where guests had the opportunity to network and reflect on the numerous insights gained throughout the day. Delegates also received a copy of the flagship ‘World Silver Survey 2019’ report, from The Silver Institute.