Dubai is the one of the seven emirates in the United Arab Emirates. The city is known for its luxurious shopping malls, contemporary architecture, and active nightlife. Dubai is crowned as the “City of Gold” because of the city’s dynamic growth from a quiet Gulf port to a global business hub in just a few decades. However, the sobriquet indicates the city’s traders’ and buyers’ penchant for the yellow metal. Dubai has built itself as a major gold trading center by sourcing its raw materials from Africa and selling the finished products to buyers in the expanding economies of India and China. Dubai owns 29% of gold trade market in the world, with almost 1,200 tons of the metals traded in the city’s gold souks.
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