Abu Dhabi – Mubasher: The value of gold reserves registered at the Central Bank of the UAE declined 1.75% year-on-year in April.
Reserves of the precious metal declined to AED 1.12 billion ($304.8 million) last month, compared to AED 1.144 billion ($311.99 million) in April 2016, according to official data released by the central bank.
Month-on-month, gold reserves grew 2.2% from AED 1.099 billion ($299.15 million) in March 2017.
In April 2015 and for the first time in eight years, the Central Bank of the UAE decided to resume forming gold reserves and reporting their data on a monthly basis, after reserves ran out in the second half of 2007.
