A polishing fluid comprising a distributed organic phase and a continuous aqueous phase, the aqueous phase having at least one complexing agent and abrasive particles dispersed therein, and the organic phase having at least one complexing agent, wherein reaction products generated during polishing interact with the aqueous phase complexing agent(s) to form water soluble metallic complexes, the water soluble metallic complexes diffuse to an organic/water interface where they release complexing agent molecules in the aqueous phase and interact with the organic phase complexing agent(s) to form organometallic complexes in the organic phase.