From rickety souk to global powerhouse: How Dubai became the City of Gold | CNN Travel

Dubai, dubbed as the “City of Gold,” is known for its jaw-dropping transformation from a sleepy village to one of the world’s wealthiest cities. The city has made its way to becoming the center of gold trade with about a 29 percent market share or nearly 1,200 tons of gold worth around $41 billion. It also has become a retail center with 600 shops selling gold, with half of it crammed into the gold souk.

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