Dubai - the city of gold
One of the busiest gold markets in the world is the Dubai Gold Souk, which has given the city the name "City of Gold". The Gold Souk is bustling with hundreds of retailers in normal times. Not long ago, there were just a few rickety stalls. Before the Corona pandemic, the gold and jewelry market in the UAE accounted for about 20 percent of non-oil exports. About 20 to 40 percent of the world's physical gold jewelry activity passes through Dubai each year.
On the outside, the Dubai Gold Souk still consists mainly of labyrinthine alleys and carved wooden roofs. Over time, however, an area of 400 square meters has become a market more than two kilometers wide and three kilometers long. In the 1970s, when the discovery of oil changed many things, the gold sector also took off. The nineties were then the peak of the gold rush in the United Arab Emirates.
If the jewelry used to be handmade, now computers and casting machines help. The pandemic, according to one of the gold dealers there, has eliminated about 40 percent of sales. But the dealers hope for better days.
For gold enthusiasts, gold jewelry is definitely something very beautiful. For investors, on the other hand, the intrinsic values of the investments count more. Gold companies are something nice, you get leverage on the gold price, you can learn about the company and its history, invest and then sit back.
Among the gold companies, Aguila American Gold- https://www.youtube.com/watch?v=7SP1_IgXkhk, for example, is appealing. Its 70,000-hectare Wusa gold-silver project in Oregon, USA, promises a lot of potential.
Filo Mining, with its Filo des Sol gold-silver-copper deposit in Chile's Region III and Argentina, also deserves attention. With a fifth drill rig, the company is working under high pressure.
Latest corporate information and press releases from Filo Mining ( https://www.resource-capital.ch/en/companies/filo-mining-corp/).
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