Author: Team Editors admin

Dubai The Center Of Gold Trading

The Gulf’s most vibrant city – its modern heart and soul – is Dubai. This emirate is situated south of the Persian Gulf and owes its remarkable economy to the oil reserves that were found there during 1960’s which then led to a surge of investors and businessmen. Dubai, United Arab Emirates has always been the center of gold trading since the 19th century. Buying gold in Dubai became more widespread after the establishment of the well renowned Gold Souq market. Today, this is considered as one of the major gold markets around the world.

The spotgold price in Dubai is presented in the national currency of the UAE Dirham (AED) twice each day according to the International rates of gold and currency exchange rates of the Dubai Gold & Commodities exchange (DGCX). The rate of gold in Dubai is also classified by the gold’s purity, namely 22 or 24 karat composition in troy ounces. There are several sources around the Internet that show the gold rates in Dubai per gram daily. The main and perhaps biggest attraction of the Dubai gold market over other markets is the low prices it offers. Compared to the other markets, such as the European gold market, the price is a lot lower by up to 60%.Demand of gold trading in Dubai is increasing rapidly.

Dubai Gold Souq

The gold souq is located in Dubai’s business district in Deira. You can find hundreds of gold dealers here that offer a wide array of gold jewelry ranging from gold necklaces, rings, ear rings, chains, brooches, bangles, amulets, and many others. Most travelers would agree that the Dubai gold souq is a dazzling feast for the eyes. At any given time, this market displays anywhere between 10 and 20 tons of gold. Aside from gold, some of the stores here also offer platinum, diamonds and other precious gems.

Tips for Buying Gold Jewelry in the Dubai Gold Market.

– Shop around Dubai gold markets to get a feel of the prices offered and the average asking prices. As a general rule, never buy at the first store you visit.

– Given that there are numerous retailers to choose from, consider haggling for the best rate depending on your budget. It is customary for visitors to haggle over prices and most retailers always expect customers to negotiate prices with them.

– Keep yourself updated about the gold rates in the Dubai market. A lot of jewelry retailers will list daily gold rates in grams for 22 and 24 karat gold. This will help customers evaluate whether a certain piece of jewelry is worth its current asking price. Moreover, consider the craftsmanship value of the gold piece that you are looking to buy.

– The best time to visit the souq is in the evening. However, allow plenty of time to browse through the stores to make sure you get the best deal at the end of the day.

– you can go for trading gold online as well. For that , you should have knowledge about forex Dubai.

August 6, 2012
Gold prices in Dubai today

Gold prices in the UAE today has seen a mild decline in less than 1 AED per gram over the past two days, and record grams of 22 gold carat 173.50 dirhams on the Dubai Exchange Market today and 21-carat 165.60 dirhams and 18 carat 171.90 dirhams and 24-carat 189.26 dirhams.

Seen gold market in Dubai drop in sales during the past two weeks and hopes of many gold traders will resume the sale and purchase of new traders to cover some of their losses.

August 5, 2012
How And Where To Sell Gold In Dubai?

Dubai now become on of the most places in the world for sell and buy gold . Dubai Gold Souk is world famous for its shops full with all types of gold products like god bar, rings and bracelette…etc

Buying gold in dubai is a great idea as low prices of gold because there is no tax for gold there ,you can buy gold depending in its weight,which include 10k, 14k, 18k and 24k.

How And Where To Sell Gold In Dubai?

there are high demand for gold jewelry in dubai gold market thats name Dubai Gold Souk in deffrent types of gold like coins, jewelry,bars and bracelette…etc

You have the option of selling old gold in exchange for new latest models. Some of the shops offering exchange facilities in the Dubai Gold Souk so if you are after the latest designs, you’ll surely have fun exchanging your old pieces.

If you need cash buy selling gold there are a lot of gold shops that offers buying gold from you depending in its weight into 18K, 22K and 24K with prove that the gold has a hallmark.remember to know your gold weight and karat and check Dubai Gold Rate to know the expecting price of your gold .

Tips To Sell Gold In Dubai

– Check your pure gold price before you go to sell gold in dubai

– Visit gold shops in the evenings as most of people visit in this time so you have more chances of buyers that time.

– If possible, confirm if the gold buyer has a satisfaction guarantee. This will guarantee a good track record and trustworthiness in business deals.

– Check your gold weight in more than one place to be sure of your gold weight .

August 3, 2012
How To Buy Gold in Dubai Gold Souk

As you step into the Dubai Gold Souk and you will feel that you have entered the Fairyland made of pure gold. Scene is unique in the market is the availability of breathtaking.

And you will find people from all over the world, such as Europeans, Indians, Americans, Arabs, etc., in this Laden Dubai gold market with gold. it was rightly called the “City of Gold.”

Dubai Gold Souk – Specialties

The best thing about Dubai gold market here is that you can get the real price of gold is very low. The reason they can afford to sell gold at a low price is that they do not have to pay taxes and fees for gold. The price that will pay the price of gold and jewelry that you buy does not depend on the style but instead on the weight of gold.

However, this does not mean they compromise on the design. Will the beautiful designs and unique of its kind available there in chains, bracelets, necklaces, earrings, bracelets, rings, range of variety can be anything between traditional and contemporary, between the strong and sensitive or between complex and simple. You may be surprised to find the various gold colors is available. Can be white, yellow or even pink and green.

And you will find over 300 gold shops here in Dubai Gold Souk. If you find plain dull gold You do not need to worry. Dubai Gold Souk also offers you the jewelry made of precious stones such as diamonds is very different, sapphire, emerald, etc..

Gold which you can buy here is generally from 21 carat or 18-carat . Bargaining or haggling regarding the cost is a a common sight in this Dubai Gold Souk. And therefore, do not hesitate to bargain outrageously jewelry you purchase. Do not try to make your trip to the market in a rush.

August 3, 2012
How to buy gold in Dubai

Dubai has the reputation of being the City of Gold and rightly so. A trip to the Gold Souk will demonstrate this. If you have not been, it truly is a marvel to see hundreds of golds shops all together, selling this age old investment. And while, historically, gold has been an investment, the temptation for adornment remains. With the numerous styles on offer, it is very difficult to walk away from the UAE without getting your own piece of bling. We provide you the details, int the grapeshisha way, so that you are in the know when scoping out the gold stores.

Choice – The UAE is a large importer of gold offering a variety of designs from Indian style, to Arabic and modern Italian and European pieces. Tax free – There is no VAT on the gold in the UAE, which makes prices particularly cheap. You might find that prices are up to 40% cheaper than those in the west.

Shop around – There are an endless number of stores offering similar products. Once you have found the item you like, make sure you haggle down to get the best price, before comparing that same item with another shop. Feel free to walk away and come back for the best price you have haggled to – it is all part of the game.

Weight and Workmanship – The price is based on the type of gold (24K, 22K etc.) and how much it weighs. The price per gramme is usually displayed at each store. Many of the stores will have a price of gold listed in the store. If not, make sure you ask specifically for what is the price of gold on the day. The price of gold is variable depending on the day. There will then be a charge for workmanship depending on length of time taken, how intricate the design is and whether a craftsman or machine was used. With a little bit of mental arithmetic therefore, you can quite easily work out what percentage charge is being charged for the workmanship. And usually, this will revolve around a fixed amount for the workmanship around the gold that doesn’t change. But in your negotiations you will never know how much that is! But if maths makes you uncomfortable, ask for the calculator.

Safe and secure – There is significant monitoring of the stores so that customers can be sure that the shops are providing a good product that is real gold.

Colours – Designs are constantly changing and white gold is becoming more and more prevalent in the souks these days, with chromium designs also being offered.

Trade in – Many tourists have their old gold on the shelf and come to trade in for cash or as payment towards a new design. It is certainly possible to sell gold in Dubai Not all stores buy gold, but many do, and some will accept an exchange. Bear in mind, though that some are particularly picky about certain factors: whether the gold has a hallmark; whether there is a certificate; or whether you have a receipt. (There are a number of measures taking place to prevent illegal trading of gold)

New designs – if you want to get the newest pieces, then base your trip around the shopping festivals. Many bring out their new ranges to coincide with DSF and DSS when much business takes place.

Custom made – if you want your own piece designed, that can also be done, depending on the time frame. It is best to get in touch beforehand or as soon as you get into town so that your piece is perfect. Having pictures of what you want is also a big help.

Copies – Duplicate designs exist all over and you could get your Bulgari gold set for a snip in comparison the legitimate price, not that we condone this flagrant infringement of copyright! Talking of copies you will hear the calls of “copy watch, copy handbag” being pitched at you, to lure you to rooms filled with fake Louis Vitton, Gucci and other big names.

What is available – everything is available from chains to sets, diamond rings to bangles, watches to cufflinks to money holders. If you want it, it will be here.

Shop times – The shops at the souks operate on a split shift basis, so there is basically a break for the afternoon between 2 and 5. Either get there early or aim for the evening until about 1030pm. You can buy gold at Dubai Airport but we think you get a better choice, better price and better experience at the Gold Souk in Dubai

Cash is king – You can bargain down to the last Dirham if you pay in cash. While credit cards are accepted, your Dollar or Dirham can make a big difference if you are planning a big purchase.

Location – The gold souk in Dubai is based in Deira. Any taxi should be able to take you there if you are visiting. You will find some of the branded stores across Dubai and the UAE, offering the same price as their store in the Souk. If you are based in Abu Dhabi, there is another such souk at the Madinat Zayed Shopping Centre which contains a fair few gold shops to give you significant choice. There are also a few shops on Hamdan Street which gain much attention.

Who to buy from – There are so many stores available, but we have checked out a few that stand out and would be a good place to starts with. Damas is the big player offering the most up to date designs. Marhaba also provides a good option for European styled jewellery. Joylukkas is a big seller of Indian designs and has a number of stores in the UAE. Other stores worth a check are Barakat and Yasin jewellery. Remember, everyone has a different taste – be sure to check out a number of stores and then buy from where you feel comfortable. But most of all, enjoy yourself

August 3, 2012
Dubai:third-largest diamond markets of the world .. Gold trade rises by 35 percent in 2011

Continued to trade in goods in Dubai to achieve strong growth, led by the trade of precious metals and precious stones, and strengthened the Dubai Diamond Exchange, the city’s status as one of the major markets of the diamond trade in the world, with trade volume in the year 2011 about 255 million carats, and a total value exceeding $ 39 billion , an increase of 11.5 percent from the year 2010.

He said the Dubai Multi Commodities, yesterday, «has achieved gold trade set new records, which rose 35 percent to reach $ 56 billion in 2011, reflecting a rise in gold prices and the volume of trade, which amounted to 1200 tons, a rate of 1.571 dollars per ounce , and represents an increase of 6.3 percent for 2010 ».

The statement added, «As for the tea, it has stored the facilities of the Dubai Tea Trading about 3.2 million kilograms of tea during the first half of 2012, The volume of tea, which benefited from value-added services offered by the center (of blending tea and packed in bags, etc. etc.) about 2.1 million kg during that period ».

Saw the Dubai Gold and Commodities rise in trading volumes during the first half of this year increased by 172 percent, to $ 3.84 million contract, driven by the large rise in the demand for futures contracts for gold

And the Indian rupee.

On the other hand, record the Dubai Multi Commodities, set a new record in the number of new companies in the first half of this year, which rose by 60 percent over the same period last year. The center had counted some 975 new companies, surpassing the number of registered members at the Center 4600 company.

Center is expected to continue to register new companies on the same pace, surpassing the total number of new members of the Centre during the current year counterpart of the year 2011, which was then a member company of 1357.

On the other hand, applies to work on in full swing in the free zone of Jumeirah Lakes Towers, which provides a blend distinctive of residential and commercial units in 61 towers completed, and the number of residents and workers in which 50 thousand people, The area includes more than 120 stores different, and is expected to completed construction work on five other towers by the end of the year.

Said Ahmed bin Sulayem, Executive Chairman of the Dubai Multi Commodities, yesterday, «Center succeeded in attracting more than 4600 companies from all over the world. He joined the region during the six months of the year an unprecedented number of member companies, in numbers to 975 companies ».

Bin Sulayem said, «we are working to improve the movement of trade in Dubai, through providing opportunities for companies to enter new markets, especially in light of the business focus shifted from west to east, from north to south».

August 3, 2012
Dubai diamond trade hits 39bn in 2011, an increase of 12%

Dubai’s precious commodities authority said in a report, that total value of the precious diamond trade in Dubai, including rough and polished diamonds soared 12% to $39 billion in 2011, ‎

Approximately 225 million carats of diamonds were traded in the Dubai Diamond exchange ‎during the year.‎said Dubai Multi Commodities Centre Authority (DMCC)

According to the Kimberley Process, rough diamonds exports grew to the United Arab Emirates (UAE) by 66% to 5.87 billion dollars in 2011, while rough imports jumped 80% to $ 3.7 billion. rough exports rose 1% in volume 47,214,000 carats while rough imports rose to 20% 52,083,000 carats.

Diamond contributed to strong trade in goods is generally seen in Dubai in 2011.

DMCC also reported a 35% increase in the value of gold traded through the exchange of up to a record level of $ 56 billion, reflecting an increase in the volume and prices. Trading volume on the gold 6.3% to 1,200 tons at an average price of $ 1571 .

In the first half of 2012, rose Dubai Gold and Commodities Exchange (DGCX) size 172% to 3,848,002 contracts, driven by large storms in gold and Indian rupee futures trading.

‎Ahmed Bin Sulayem, DMCC’s executive chairman, said.‎ “Our strategy is to continue to enhance commodity trade flows through Dubai by enabling companies to reach new markets as they shift from west to east and from north to south,”

DMCC, the licensing authority for the Jumeirah Lakes Towers (JLT) Free Zone,registered a growth of 60% in the new company during the first half of 2012, compared with the same period in 2011. In the first six months of the year, recorded 975 new companies DMCC, bringing the total number of companies operating in the free zone to more than JLT 4,600.

DMCC did not provide diamond trade data for the first six months of 2012.

Dubai, the United Arab Emirates Centre for Trade gems, and $ 35 billion of rough and polished diamonds in 2010, a jump from the annual figure of $ 3 million just a decade ago.

August 2, 2012
Dubai Gold and Commodities Exchange expanded its presence with gold traders in the UAE

Confirmed a senior managers in Dubai Gold & Commodities Exchange that hedging instruments actors will be a decisive factor in the province of gold traders on the profitability of their business within the current economic climate.

Said Samir Shah, Chief Business Officer at DGCX that gold prices have seen significant growth over the past two years but that the sharp price fluctuations of the precious metal is the hallmark of the gold market in the current period, which continuously threatens the continued profitability.

He confirmed that the hedging of price risks is vital, especially in the current environment, which may lead the many possible developments to a significant increase in the price fluctuations including the eurozone crisis and a slowdown in the growth of emerging markets such as China, elections, and political risks and the possibility of implementing the third phase of quantitative easing “QE 3 “and the financial situation of the United States.

Dubai Gold & Commodities Exchange had recently hosted a workshop on “hedge traders gold” in collaboration with the Dubai Gold and Jewellery in order to explain the need to hedge in light of the current economic environment, volatile and tools provided by the stock exchange to help traders to protect their profits.

Shah said that gold futures contracts from Borse Dubai Gold and Commodities is working to provide exceptional tool to hedge exposure to price risk in today’s markets, allowing participants to achieve profits when the market moves in any direction.

For his part, Peugeot Joy General Manager of Dubai Gold and Jewellery Group this workshop as an excellent opportunity for traders of gold in Dubai to understand the strategies multiple reliable risk management gold prices when trading on the platform Borse Dubai Gold and Commodities confirming the group’s commitment to work with institutions such as the Dubai Gold and Commodities in order to support the development of the gold market in Dubai.

Expects DGCX and growing interest in commodities trading gold futures contracts on the platform where the stock market enjoys a good position allows it to meet this growing demand.

Referred to the size of gold futures traded on DGCX and goods has grown by 111 percent in June compared with the same period last year due to the increasing demand for trading these contracts due to increased price volatility as high back size of gold futures also the significant steps taken by the stock exchange to support gold futures contracts.

Has played DGCX since its inception a vital role in strengthening the financial system to the UAE by providing hedging instruments and mechanisms that allow market participants the implementation of the conversion processes and risk management within the well-regulated environment.

The gold futures contract of the underlying contracts in DGCX and goods accounting for these contracts since its launch in 2005 a new benchmark for the pricing of gold in the UAE, a futures gold bars weighing one kilogram and higher purity 0.995.

source :wam

August 1, 2012
What Is Spot Market For Gold

spot market for gold

Is the way followed by senior institutions and buyers where to buy gold from the major banks, and one of the largest centers of major global market in the gold trade is London and is the transactions will be settled at about $ 18 billion daily transactions are settled through paper transfers.

And London is not considered is the only major market, but there are markets for major such as India, Singapore and the Middle East, China and the United States, Italy and Turkey. This is the gold bullion market and precious chips and lucrative trade and secured.

Gold trade of the largest global trade prevalent and most profitable, this trade from ancient times to I in our time increased deployment marked increase and become many denominations and Markets in all states.

June 19, 2012
Gold sales in UAE grow 5% to 3.8 billion dirhams in the first quarter

Gold sales in UAE grow by 5% during the first quarter of 2012, rising to 3.87 billion dirhams, compared with 3.69 billion dirhams in the same period of 2011, according to the World Gold Council statistics.

The record growth in gold demand for investment in the domestic market by 33% to 588.8 million dirhams in the first quarter of this year, compared to AED 441.6 million in the same period of 2011, while sales recorded on jewelry “gold jewelry” 3.87 billion dirhams, between January and March 2012, compared to 3.69 billion dirhams in the same period of last year, an increase of 1%.

It showed Statistics World Gold Council, the demand for gold sales in terms of weight, “quantities” witnessed a decline in various global markets, including the UAE market and sales fell 14%, to fall to 19.4 tons in the quarter of this year, compared to 22.5 tons in 2011, down 3.1 tons.

The gold sales in 2011 grew 24% in terms of value to about 12.8 billion dirhams, compared with 10.3 billion in 2010, an increase of about 2.5 billion dirhams.

The Council that the demand amounts to invest in the yellow metal grew by 9% to a record 3 tons in the first quarter of 2012, compared with 2.7 tons in the same quarter of 2011, up 300 kg, while the demand for sales jewelry and gold wrought fell by 17 %, the amount drops to 16.4 tons in the period from January to March 2012, compared to 19.8 tonnes in the same period last year.

The report predicted that in light of the results of the first quarter, the demand for gold during 2012 will record a growth rate of 2% in terms of value, while 19% will be reduced quantities.

In Saudi Arabia, grew value demand for gold sales by 13% during the first quarter of 2012, rising to $ 823 million, compared with $ 731 million in the same quarter of 2011, and record investment in the yellow metal in the Kingdom increased 52%, to reach $ 250 million, compared with 165 million, while the value of the demand for gold jewelery 1% to $ 823 million, compared with 731 million in the same quarter of 2011.

In terms of quantities, Saudi Arabia, has declined during the first quarter increased by 32% to 11.1 tons, compared to 16.4 tonnes, due to the decline in demand for jewelry manufacturers, by 17%, falling to 10.5 tons, compared to 12.7 tons, But that investment in gold rose 24% to up to 4.6 tonnes in the first quarter of this year, compared with 3.7 tons in the same quarter of 2011.

In the rest of the Gulf states recorded sales value grew by 7% in the period from January to March 2012, to reach $ 285 million, compared with $ 367 million in the same period of 2011, and record investment in gold grew 38%, achieving $ 47 million versus $ 34 million, While demand grew jewelery sales in terms of value 2% to $ 238 million versus $ 233 million during the same period of comparison.

In terms of quantities fell in the first quarter by about 13% in the rest of the Gulf states, to fall to 5.2 tons, compared to 6 tons, in the same quarter of 2011, while investment in experienced growth of 13% gold for up to 900 Clio grams, compared to 800 kilometers grams, and the corresponding decline in demand for jewelry quantities manufactured “jewelry” in the Gulf countries other than the UAE and Saudi Arabia 16%, falling to 4.4 tons, compared to 5.2 tons.

The report pointed out that the global demand for gold grew by 16% in the first quarter of this year, up to $ 7 billion, while the decline in terms of quantities of 5%.

May 21, 2012