DMCC, one of the world’s leading commodity hubs for trade and enterprise, announced at the 5th edition of the Dubai Precious Metals Conference (DPMC), in association with Foretell Business Solutions. Under the theme ‘Linking Markets’ DPMC addressed Dubai’s role in stabilising and building value to the precious metals industry. Panel discussions also focussed on how to support India's new policy framework; integrating new and existing producers into the global supply chain through responsible sourcing practices and outlook on prices.
“The geographic pattern of world trade flows is shifting as South-South trade continues to grow. We have already seen the flavour of this in the precious metals industry with the increase in emerging market flows between Africa, the Middle East and Asia”, said Gautam Sashittal, Chief Executive Officer, DMCC.
He added, “As global trade accelerates, the mechanics of gold trading are evolving substantially with trends clearly moving from OTC onto regulated Exchanges. Our DGCX spot gold contract is a strong example of this bringing further dynamism to the industry”.
The conference drew 450 delegates from over 34 countries including DMCC’s Executive Chairman, Ahmed Bin Sulayem and keynote speakers Honourable Mr AbubakarBawaBwari, Minister of State Mines & Steel Development, Nigeria; and Dr. Diego Parrilla, co-author of 'The Energy World is Flat' who said in his speech:
"A perfect storm for gold is brewing as central banks have reached the point of no return and continue to push and test the limits of monetary policy, credit markets, and fiat currencies, which could result in gold prices above $3,000/oz within 3 years".
A panel dedicated to the topic of ‘The Future of Trade’ furthermore unravelled recent research suggesting that adoption of digital technologies to trade can revolutionise logistics, supply chains and distribution channels, and add billions of dollars worth of new export-import business to world trade.