Experts discuss market opportunities at DMCC Dubai Precious Metals Conference

DMCC,  the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise successfully held the ninth edition of its annual industry-leading Dubai Precious Metals Conference (DPMC) on Thursday at the Almas Conference Centre. The event was officially endorsed by the UAE Ministry of Economy.

Held under the theme of ‘Disruption in the precious metals industry – technology, regulation and sustainability’, the conference welcomed over 300 industry experts and professionals from leading organisations including the OECD, Dubai Exports, the World Gold Council, Morgan Stanley and ICBC Standard Bank. 

The sector leaders addressed key trends within the global precious metals industry and how to harness current opportunities..

Across three interactive panel discussions, the 2021 edition of the DPMC shed light on how technology such as blockchain is expected to impact the precious metals sector, the ever-changing global regulatory landscape, and how ESG impacts the bottom line of the industry.

Michael Saylor, known for his advocacy and adoption of crypto and blockchain technology, shared his insights about the relationship and interactions between gold and cryptocurrencies in a special keynote interview. 

The session, held under the title ‘Gold versus Bitcoin: competition or coexistence?’, highlighted bitcoin’s growing status as ‘digital gold’.

On the agenda was a discussion around the ‘Global outlook, market conditions and opportunities for precious metals in the recovery’, during which industry experts discussed the current opportunities in the precious metals business, particularly in the wake of the increased demand and the recovery journey from the COVID-19 pandemic. 

Despite the impact of the COVID-19 pandemic, 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. DPMC 2021 underscored that businesses need to fully grasp these changes and actively engage with these conversations to not get left behind.