Category: Gold in Dubai

Gold prices in Dubai settle at 175 dirhams for 22 carat

Gold prices settled today in dubai as prices for E yesterday, scoring gram 24-carat gold 190 dirhams and 22 carat 175 dirhams and 21-carat carat 167 dirhams and 18 carat 143 dirhams.

And saw the gold markets in the country a significant improvement in sales, especially in the Emirate of Abu Dhabi which witnessed the prosperity of gold sales during the previous period and before the Eid al-Fitr, which encouraged many traders in the gold market Madinat Zayed in Abu Dhabi went to view more of the various gold jewelry.

Did not alter much in Dubai gold souk where he witnessed the remarkable turnout on buying gold especially with the decline in gold prices in the markets of the emirate.

It is expected many of the gold dealers in Dubai gold market movement Bazhar sales after the holiday and also before the start of the study in light of low gold prices.

Dubai is one of the most popular Arab role Alazhb sales during the past period, unlike the other markets.

August 17, 2012
Gold and rupee futures record high trading volume in Dubai Gold and Commodities Exchange

Gold continued and rupee futures strong performance in the DGCX with an annual growth rate of 211 percent in volume for the month of July supported by strong performance during the first half of the year.

DGCX succeeded in recording a total of 9,656,037 held in July this year amounted to a total value of 8.35 billion U.S. dollars, representing a record trading volume for the fifth consecutive month.

Has contributed trades July – which saw an increase of 9 percent for trading in June – in the promotion of trading volume in the stock market since the beginning of the year to date to 48 million and 136 thousand and 49 contract an increase of 179 percent compared with the same period in 2011, whichseen by 17 million and 282 thousand and 13 contracts.

As the volume of currency contracts in July increased by 223 percent from last year to 8,979,008 contracts.

The Indian Rupee futures contract on the Dubai Stock Exchange Gold and Commodities are the mainstay of growth currency again registered an annual increase of 263 percent by 8 million and 923 thousand 49 held during this month.

For decades other currencies decades have seen the Australian dollar and the Swiss franc futures grew by 49 percent and 24 percent, respectively, compared with the month of June.

Also saw gold futures contracts in DGCX and commodities annual growth significant by 104 percent to up at the end of the month to 55 thousand and 320 contract as the number of gold futures contracts since the beginning of the year to date to 3,127,072 held an increase of 11 percent compared with the same period in 2011.

Said Gary Anderson, CEO of DGCX and goods that Borse Dubai Gold and Commodities committed during the first half of 2012, with notable towards enhancing liquidity levels and increase the size of their contracts Home and through the introduction of changes to contracts and encourage market makers to provide the best prices.

August 7, 2012
Dubai :Largest markets for diamonds in the world

Continued leadership in the Emirate of Dubai trade goods across the 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 largest markets for diamond trade in the world, “the third world.”

The total trade volume in 2011 about 255 million carats, and a total value exceeding $ 39 billion, an increase of 11.5% from the year 2010.

He said the Dubai Multi Commodities, in a recent report: has the gold trade set new records, which rose 35% 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 USD an ounce, and an increase of 6.3% for 2010.

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

August 6, 2012
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
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
Gold Rate Loses 11 dirhams In Two Weeks For Gram And Sales Rise 20%

Gold Rate

Continued gold prices decline for the second week in a row, and gram lose more than 11 dirhams in two weeks, has encouraged consumers to return to the purchase, and raising the sales including ranges between 20 and 30%, according to officials in the shops for jewelery and gold jewelery in Dubai and Sharjah. The price of a gram of gold bullets different, a decline ranged between 4.5 and 5.5%, yesterday afternoon, compared with the rate prices a week ago, according to the stated price indices in Dubai and Sharjah.

And detailed, the price of 24-carat yesterday 185.25 dirhams, down 5.5 dirhams prices last weekend, while the total gram 22 carat 174 dirhams drop of 5.25 dirhams. And the price of one gram of 21 carat carats to 165.50 dirhams, down five dirhams, while the total gram 18 carat AED 141.75, a decline of 4.5 dirhams.

The director of the shop «jewel Baghdad» to trade jewelry, hekmat ward, that «low gold prices at rates that exceeded 11 dirhams in two weeks to support the return of consumer markets, as were keen to take advantage of the decline in prices, which is the largest in nearly three months, leading to increased sales, especially this week, rising by about 30% compared to last week.

Concurred in opinion official sales in the shop «Alujain Jewellery», Ahmad Ebadi, who stressed that «the continuation of gold prices in decline tempt a large number of consumers buying to take advantage of those declines, boosting sales, which rose at rates ranging between 20 and 30% compared to last week.

He pointed out that «continue to decline such large values will contribute to compensate merchants for prior periods was devoid of strong events, where prices rose sales Vtbatot, more focused sales and then to sell gold Mchgullachm dealers used.

May 18, 2012