16/10/2026
Dubai's ambition to become a global centre for gold trading, price discovery, and risk management began more than 24 years ago.
On 24 April 2002, His Highness Sheikh Mohammed bin Rashid Al Maktoum announced the creation of the Dubai Metals and Commodities Centre, with the ambition of capturing half of the international gold business.
At the time, Dubai held approximately 10% of the market.
Today, the UAE is the world's second-largest physical gold trading hub, after Switzerland. DGCX has played a central role in this growth, providing the exchange infrastructure that connects physical commodities with transparent price discovery, central clearing, and risk management.
That journey began in November 2005, when DGCX launched as the first derivatives exchange in the Middle East and North Africa. Supported by the Dubai Commodities Clearing Corporation and DMCC Tradeflow, the exchange has continued to expand Dubai's trading, clearing, and physical delivery infrastructure.
That momentum continues. In the first eight months of 2026, DGCX traded volume rose 29% and traded value rose 49% to USD 46.43 billion. In June, we launched the GCC's first same-day physically settled spot gold contract on a regulated exchange, and more than one tonne has been traded and settled to date. From 16 October 2026, the contract will also support LBMA benchmark-linked pricing, further connecting international gold markets with regional physical settlement.
On 8 October 2026, His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance and Chairman of the Higher Committee for the Development of the Economic and Financial Sector, chaired a meeting reviewing six strategic directions for the Dubai Gold Strategy, covering trading, financing, storage, competitiveness, price discovery, and jewellery and retail demand. The strategy builds directly on the ambition established in 2002.
Dubai's foreign gold trade reached about AED 1 trillion in 2025, up 60% on the previous year. For DGCX, supporting these priorities means broadening market participation, deepening liquidity, and giving bullion businesses effective tools to trade, hedge, clear, and settle.
Join us at the 14th Dubai Precious Metals Conference, 16 and 17 November 2026, at SO/ Uptown Dubai, to explore the market infrastructure and partnerships shaping the next phase of the global gold trade.
https://dmcc.tech/4yptOt0