In 1966, more gold was shipped from London to Dubai than almost anywhere else in the world (only France and Switzerland took more), at 4 million ounces. Dubai also took delivery of over $15 million-worth of watches and over 5 million ounces of silver. The 1967 price of gold was $35 an ounce but its market price in India was $68 an ounce – a healthy markup. Estimates at the time put the volume of gold imports from Dubai to India at around 75% of the total market.