UAE central bank set to enter the gold market

According to this article published Monday 3 July, the United Arab Emirates central bank will soon enter the gold market and also purchase euros as a diversification of the national currency reserves presently held in US dollars.

"I don't think it is appropriate to buy gold now - it is too expensive. The appropriate time might come very soon. We could go up to 10 per cent," UAE central bank governor Sultan bin Nasser Al Suwaidi is quoted as saying.

"We are waiting for (market) conditions to cha

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