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Dubai Precious Metals Conference

November 2021, Almas Towers Dubai

Despite the impact of Covid-19, investment in precious metals has remained well supported and gold consumption will likely benefit from global economic recovery throughout 2021 and 2022. With changes to the supply-demand dynamic of multiple metals, many signs are pointing towards a new commodities super cycle. The adoption of cutting-edge technology is also having a profound impact on the sector, with blockchain-enabled platforms increasing efficiencies across the entire precious metals supply chain. Simultaneously, regulation and an increased focus on ESG issues are positively changing the industry's landscape —businesses need to fully grasp these changes and actively engage with these conversations to not get left behind.

From technology and regulation to sustainability, the Dubai Precious Metals Conference will ultimately address how precious metals businesses can fully capitalise on the current opportunities within the sector to drive global growth.

Join the event as industry leaders share their views on the potential of blockchain and crypto to influence the future ofthe gold trade.

Subjects of Discussion:

Disruption In The Precious Metals Industry:

Technology, Regulation And Sustainability

Global outlook, market conditions and opportunities for precious metals in the recovery

According to the "Precious Metals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025" report, the global precious metals market exhibited moderate growth from 2014 to 2019. The COVID-19 pandemic then sparked volatility in markets across the globe. Supply chains were disrupted, operations of several manufacturing units were halted, which in turn led to inventory shortages. On the other hand, investments in precious metals have increased to survive the rapidly changing market conditions. Looking forward, the market is expected to exhibit moderate growth in the next five years.

According to the World Gold Council's new annual outlook on the commodity, gold investment will likely remain well supported while gold consumption could benefit from economic recovery in 2021. A predicted upswing in demand from investors and consumers will likely add to gold in 2021, prompting prices rise to $2,300, as the global economy returns to growth post-pandemic.

Is it possible to disrupt the precious metals industry with blockchain technology?

Blockchain technology can be used throughout the precious metal value chain and has the potential to revolutionise how gold and other precious metals are mined, manufactured and delivered. Distributed ledger technologies can play a central role in the entire life cycle of gold, which includes industries and processes such as mining, legal, regulatory, financial, manufacturing and retail. The decentralisation offered by such ledgers guarantees complete transparency across the supply chain, whilst also presenting a great increase in efficiencies that significantly reduce costs.

With precious metals being used more widely in industrial applications, namely technology such as smartphones, entertainment systems and electric cars - tracking metals across the supply chain has become increasingly more important to businesses and consumers. It is therefore an area that the precious metal industry needs to not only take seriously, but fully embrace.

The changing landscape in the precious metals industry —locally and globally

In December 2020, the Ministerial Development Council adopted four new initiatives aimed at strengthening the UAE's position as a global hub for gold trade. Specifically, the new policy includes the establishment of a UAE international standard for good gold delivery and the development of a federal platform for gold trading. With gold trading responsible for 29% of the UAE' non-oil exports, it is no wonder that the authorities have worked very hard to implement policies aimed at positioning this part of the commodities trade firmly.

In April 2021, the Emirates Gold Bullion Committee reviewed plans to launch the federal gold trading platform. The platform is especially indicative of the government's goal of incorporating technology into gold production since tracking the gold's origin seeks to boost the transparency in the Emirati commodity exchange markets for gold. As trust is pivotal for the gold market, the creation of an Emirati trust standard will prove crucial for the industry's future.

How ESG impacts the bottom line in the precious metals industry

Environmental, Social, and Governance (ESG) issues are increasingly impacting businesses across all sectors and they are not new to the metals and mining sectors, as they have always been under close scrutiny. But 2020 has set a new bar for what stakeholders expect from the industry - consumers and investors alike are looking much more closely at provenance and production methods, as well as the environmental and social impact ofwhat they invest in or buy.