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Trade in gold and precious metals in Dubai, the UAE

Article image: Trade in gold and precious metals in Dubai, the UAE

If to take into consideration the fact that over 20% of the world volume of sales of precious metals is accounted for by Dubai, its rank of the «Golden City» is well founded. In a relatively short period of time, the Government of the Emirate managed to provide the most comfortable and safe environment for conducting commercial transactions in the field of precious metals.

Trade in gold in Dubai involves the world's largest shopping malls and trading venues for selling jewellery products. And the main advantage is that the government has exempted entrepreneurs, who are involved in selling and buying gold, from taxation. Impressive volume of trade and non-existence of taxation reduce the final cost of precious metals expressively. Experts note that goldwares are sold at relatively low prices (about 35-40%) in Dubai. All the advantages, which are provided by trade in gold in Dubai, are available for both wholesale and retail traders.

Dubai megalopolis is ready to offer specialized trading venues for selling goldwares and jewellery. A range of choice of finished products is limited only by your purchasing capacity and wishes. Every year Dubai attracts the highly qualified workforce from all over the world, what allows to reduce the markups on finished products significantly. There is a possibility for experienced buyers to make an individual order. In the shortest possible time, you will receive the original product, which has no analogues anywhere in the world.

Trade in gold in Dubai – features and opportunities

Both wholesale and retail trade in gold are equally developed in Dubai. Weight of the ingots can range from 1 to 100 bars and more. The current legislation provides both parties of the transaction with tax benefits, including an exemption from value added tax and profit tax. It should be noted that pricing is implemented taking into account the small markup on the market value of selling precious metals. Purchase and sale of gold in Dubai are a time-tested investment of assets, which implies substantial benefits.

Sale of gold in Dubai, the UAE – quality indicators

As to the quality of the selling products, it is not a secret that the Dubai Government carefully monitors the quality of the offered products. State control and compulsory standards of quality conformance are equally applied to both small retail shops and markets specializing in sale of gold. Thus, no matter where you purchase the gold, the quality is guaranteed.

The concentration of pure gold in the total alloy of products is expressed in carats. The final value of precious metals or jewellery depends on the weight, a denomination of which is a gram. The authority to determine the price of gold belongs to the Dubai Gold & Commodities Exchange.

When planning to purchase of gold in Dubai, it is advisable to read carefully the list of specialized markets where you can make a good bargain. First of all, it is the Gold Souk and such specialized shopping malls as Emaar Gold & Diamond Park. In addition to large venues, there is a great number of retail outlets and shops in Dubai. You can also visit manufacturing facilities and make a unique order according to the individual drawings.

Conclusion

Free trade, including trade in precious metals, has become a major direction for the national economy of the United Arab Emirates. This particular attitude to private business has provided the inflow of direct investments and skilled professionals from all over the world. Even when a decline in sales of precious metals is observed in the world, the Gold Souk in the Emirates continues to gather steam and expand the international network.

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