04/03/2013
Gold Transferred to Dubai after the Rise in Storage Costs in Switzerland
GoldbeganflowingtoDubainoticeablysincelast yeartostoreitin the Dubai Multi Commodities Centre (DMCC),asaresultoftheunstablesecuritysituationin the regionontheonehand,andthehighcostofstoringgoldinSwissbankson the other hand.
Thischange instorage comesafterboth "UPS" and "Credit Suisse",whichleadgold storagemarketin Switzerland,raised the prices ofstoragebecause of the highcostsresulting from theapplication of"BaselIII" standardswhich took effecton Januaryandwillremaininplaceuntil 2019
