This is NOT on TV. But it is important (to humans, not to dolphins)...few are aware of what this portends right now as Dubai Goes After Asian Gold Market. Few in the "West" are taking delivery of gold, preferring to play the virtual, musical chairs markets. Now Dubai is catching up, with the latest technology imported from the UK.

DUBAI, United Arab Emirates (UPI) -- Dubai is challenging Britain`s hold on the global gold bullion market, particularly its hold on India and China, the Economic Times reported Monday.

Dubai will market gold bars that are smaller than London`s standard 400-troy ounce bars and deliver them to relatively nearby Asian buyers at far lower transportation costs.

The so-called Dubai Good Delivery will be monitored and certified by the government`s Dubai Metals and Commodities Center.

Already, several Indian banks are in talks with intermediaries to buy gold from Dubai. Traditionally, Indian banks import through intermediaries who procure gold from countries like Switzerland and Britain.

The Dubai Metals and Commodities Center has also introduced Dubai Gold Receipt, an electronic vault receipt, which gives owners of gold a real time on-line access to their holdings` worth.

Copyright 2005 by United Press International