Abu Dhabi – Mubasher: The value of gold reserve assets was lowered 5.5% year-on-year in June 2017, according to data released by the Central Bank of the UAE.
The bank’s gold reserve assets amounted to AED 1.10 billion ($299.4 million) down from AED 1.164 billion ($316.8 million) in the same period of 2016.
Month-on-month, the central bank’s gold reserve assets were down by 1.14% to AED 1.116 billion ($303.7 million) from May.
The Central Bank of the UAE resumed the formation of gold reserves for the first time in eight years after its reserves were depleted in 2007.
