Illicit Gold Trade from Africa to UAE Exceeds $23 Billion Annually Billions of dollars worth of gold is smuggled out of Africa each year, primarily to the UAE for processing, according to a SwissAid report. The Bern-based NGO analyzed gold import data over a decade, estimating the illicit trade at $23.7 to $35 billion annually. In 2022 alone, over 435 tons of gold were smuggled out, fueling conflicts and financing criminal and terrorist networks. The UAE has acknowledged the issue and reported a significant increase in suspicious activity reports related to the gold sector. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Bitcoin Rallies on Cooling Inflation, Eyes New Highs READ MORE ZeroHedge: Silver: The Moment to Take Action Has Arrived READ MORE Leading Economic Index Suggests U.S. Recession Fears Receding READ MORE Hyperinflation Hits Argentina – Which Country Could be Next? READ MORE Summer Demand Boost and OPEC+ Cuts Drive Oil Prices Higher READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment