Core Insights - The UAE has significantly enhanced its position in the global gold and precious metals trade, becoming the second-largest gold hub worldwide [1] Trade Environment - The UAE has established a secure and transparent trading environment for precious metals through the CEPA agreement and a stringent regulatory framework [1] - Precious metals constitute an important part of the UAE's non-oil trade [1] Economic Impact - The gold circulation amount in the UAE is projected to reach $186 billion in 2024, marking a historic high [1]