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> UAE imported $15.1 billion worth of gold from Africa in 2016, more than any other country and up from $1.3 billion in 2006. The total weight was 446 tonnes, i
by lowdose 8y ago
> UAE imported $15.1 billion worth of gold from Africa in 2016, more than any other country and up from $1.3 billion in 2006. The total weight was 446 tonnes, in varying degrees of purity – up from 67 tonnes in 2006.
Sounds like UAE is increasingly hedging the dollar with gold.
- kenneth 8y agoThat's not my interpretation at all. EDIT: moved explanation it to a top level comment because I thought it more broadly interesting: https://news.ycombinator.com/item?id=19743663 https://news.ycombinator.com/item?id=19743663