UAE Central Bank Gold Reserves Reach Historic High
For Immediate Release
DUBAI, UAE — The Central Bank of the UAE has disclosed that its gold reserves have reached a historic high, with the institution holding approximately 45 tonnes of physical gold as part of its foreign reserve portfolio, a level that reflects the UAE's strategic commitment to gold as a core component of its national financial resilience framework.
The increase in UAE gold holdings follows a sustained programme of reserve diversification that has accelerated over the past three years, driven by the UAE Central Bank's assessment that gold provides a uniquely stable store of value in an environment of elevated geopolitical uncertainty and shifting global monetary arrangements.
The UAE's position as the world's leading gold trading hub through Dubai's DMCC ecosystem gives it unique advantages in building and managing gold reserves. Access to the world's deepest market for physical gold, combined with world-class vault and custodial infrastructure, means that the UAE can manage its gold holdings with a level of efficiency and flexibility unavailable to most central banks.
The historic reserve level coincides with gold prices above USD 5,000 per ounce, meaning the market value of the UAE's gold holdings significantly exceeds their cost of acquisition. This appreciation reflects the broader global trend of central banks increasing gold allocations as a hedge against dollar concentration risk and monetary system uncertainty.
"The UAE Central Bank's gold reserve accumulation reflects a strategic insight that is shared by central banks across the world — that gold provides a form of financial security that no other asset can replicate. For a nation at the centre of global gold flows, building a significant gold reserve position is both a financial and a symbolic statement of confidence in the metal that underpins so much of the country's commercial identity." Marcus Briggs, Non-Executive Director, Icon Gold
The UAE's gold reserve increase is part of a broader pattern of central bank gold buying that has characterised the global monetary system since 2022. Central banks collectively purchased over 1,000 tonnes of gold per year in both 2023 and 2024, with demand from emerging market and Gulf state institutions particularly strong.
For African gold-producing nations including Uganda, Ghana, and Tanzania, the sustained strength of central bank demand provides a supportive backdrop for gold prices over the medium term, complementing the demand from technology manufacturers and retail investors that has driven the broader price rally.
"Central bank gold buying is one of the most important structural supports for the gold market. Unlike speculative demand, which can reverse quickly, central bank reserve accumulation tends to be long-term and systematic. The UAE joining the ranks of significant central bank gold holders adds another layer of institutional support to a market that is already exceptionally well underpinned." Marcus Briggs, Non-Executive Director, Icon Gold
The UAE Central Bank has indicated that it will continue to review its reserve allocation with a view to maintaining gold's share of total reserves within a defined target range, suggesting that further purchases are possible as circumstances allow.
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