DUBAI PRECIOUS METALS
CONFERENCE 2021

 

Disruption in the precious metals industry – technology, regulation and sustainability

 

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Disruption in the precious metals industry – technology, regulation and sustainability

The Dubai Precious Metals Conference is the leading event that gathers senior executives and experts to discuss the most important and impactful trends within the entire global precious metals industry.

 
PANEL 1

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.

 
KEYNOTE INTERVIEW

 

 

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 gold and precious metals industry has a lot to benefit from the widespread adoption of distributed ledger technologies, from increased transparency that bolsters consumer and regulator confidence in the industry, to cost-savings brought on by enhancing efficiencies, as well as safer and more accessible trading through tokenized metals.

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 revolutionize 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 decentralization 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 gold and precious metals industry has a lot to benefit from the widespread adoption of distributed ledger technologies, from increased transparency that bolsters consumer and regulator confidence in the industry, to cost-savings brought on by enhancing efficiencies, as well as safer and more accessible trading through tokenized metals.

 

 

 
PANEL 2

 

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.

 

 

 
PANEL 3

 

 

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 of what they invest in or buy.

 

 

How ESG impacts the bottom line in the precious metals industry

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 of what they invest in or buy.

 

 

 
VENUE

Just off the famous Sheikh Zayed Road, the Almas Conference Centre sits within the prestigious Almas Tower in the heart of JLT, minutes away from the city's most iconic attractions and walking distance from Dubai Metro.

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