Dubai has a long history of being a hub for gold and silver trade, and it’s not uncommon for the city to release new coins as part of its ongoing efforts to promote its status as a center for precious metals. Dubai’s DMCC has unveiled prototypes of a new series of gold and silver bullion coins that celebrate the achievements of the UAE over the past 50 years. The coins will be made available for purchase after Ramadan.
Announced at the 2022 edition of the Dubai Precious Metals Conference (DPMC), the coins are the result of a partnership with Czech Mint, the official supplier of currency coins to the Czech Republic’s central bank. The agreement was signed by Ahmed bin Sulayem, Executive Chairman and CEO of DMCC.
These coins are often issued by the Dubai Multi Commodities Centre (DMCC), which is responsible for regulating the gold and diamond trade in the city. The coins are typically minted in various weights and sizes and are often designed with intricate patterns and symbols that reflect the culture and heritage of the UAE. The release of new coins can also be seen as a way to encourage investment in precious metals and promote Dubai’s position as a leading global trading hub.
The new prototype bullion coins feature a range of designs including the image of President Sheikh Mohamed bin Zayed Al Nahyan; Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai; and the Louvre Abu Dhabi to reflect the UAE’s standing as a major global cultural destination. The Dubai Precious Metals Conference seeks to enhance opportunities and find solutions to the challenges facing the sector, and the Dubai Multi Commodities Center will mint previous versions of its famous gold coins at Check Mint.
DMCC signed two agreements with Comtec Gold(Comtech Gold) and Sword Gold(Safe Gold) To provide physical digital assets backed by gold to boost the USD 20 billion gold industry in the Middle East. Throughout 2022, DMCC bolstered its facilitation of the wider gold ecosystem: DMCC’s Dubai Gold & Commodities Exchange (DGCX) signed an MoU with FinMet to expand DGCX’s gold product offering and market participation by providing facilities for bullion traders to raise short-term funds with new gold contracts.
DMCC signed agreements with Comtech Gold and Safe Gold to offer physical gold-backed digital assets to positively disrupt the USD 20 billion gold industry in the Middle East; and, alongside supporting the second edition of the Jewellery Gem and Technology (JGT) Dubai B2B trade show, DMCC also hosted a range of high level delegations from key gold markets including the UK’s Royal Mint and multiple African nations, with all conversations revolving around advancing the trade of precious metals globally.
