The value of gold reserves of the Central Bank of the UAE (CBUAE) reached AED17.921 billion by the end of January 2024, a year-on-year (YoY) growth of 7 percent.

The apex bank, in its latest figures, showed that gold reserves mildly dropped by 1.25 percent compared to AED18.147 in December 2023.

The UAE's gold reserves significantly grew over the past years, hitting AED12.862 billion by the end of 2020 from AED4.44 billion by the end of 2019, and AED1.134 billion in 2018.