Dubai, nicknamed as the city of Gold saw the trade in yellow metal cross $70 billion in 2012 from a mere $6 billion in2003. This was disclosed at the Dubai Precious Metals Conference by the Executive chairman of Dubai Multi Commodities Center (DMCC), Ahmed bin Sulayem. He said that Dubai has risen as a major global gold and precious metals trading destination. About 20 percent of the world's gold is imported and exported through Dubai. He said that the demand is strong and most of the new firms are from the emerging markets in Africa, India and China. The theme of the conference was 'Enhancing the Global Precious Metals Supply Chain and was attended by more than 350 delegates from 28 countries.