Gold industry shifts east as Dubai plans huge refinery, spot contract | Reuters

Currently, London plays a leading function in recognizing goldrefineries around the world; the London Bullion Market Organization(LBMA) runs a Great Delivery Checklist of accredited refineries. But key sector activities suchas refining as well as clearing up - matching investors' buy and also sellorders - continue to be controlled by Europe and also the United States.

REFINING

Gold imports and also exports handled by Dubai skyrocketed to $75billion in 2014 from $6 billion in 2003; almost 40 percent ofthe globe's physical gold profession passed with Dubai in 2014, baseding on the Dubai Multi Commodities Center.