They are relatively inexpensive and are secure and easily accessible.
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Netting of orders is processed automatically for participants with all house and client orders, plus any share of the imbalance, contributing to their final net volume. This net volume is then matched against other participants to produce trades with immediate trade confirmations.
An auction can conclude with up to a 10, ounce difference between the entered buying and selling interest. This is referred to as the imbalance. To ensure fairness this imbalance is shared out among the direct participants equally, irrespective of whether they entered interest into the auction or not. This is to ensure continuity of the existing process as well as certainty of the imbalance for direct participants.
The auction is designed to be transparent and allow as many participants as possible. Please contact IBA for more information on becoming a participant: Gold is the money of choice and we would like to have a meaningful amount of our assets denominated in gold. I have never been a gold bug, it is just an asset that, like everything else in life, has its time and place. And that time is now.
I view gold as a currency, not a commodity. With the same things that were done in and , when it was temporarily solved with big expenditures and very aggressive monetary and fiscal policy, aside from lowering taxes, we should be directing more money to the real economy, not to the financial economy. The volatility of the markets is so great that more is won or lost in a single day than in five years of accumulated interest.
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I try to save for the past 5 years but in vein. I was trying to generate extra savings through online trading but i am hesistant thinking that it is not as per our sunnah. I was trying to get into bullion trading to start saving as well as to earn profit from it. I am a beginner in this and i want few guidance from you.
Is it the right time to buy or should i wait for the price to go down probably after eid, marriage season and diwali 2.
What should i buy 22 kt or 24 kt? I will be investing little by little. Can i sell to the same person from where i am buying from?
Will u help me by choosing a sellar i want a reliable person as i do not have experience. What i take care or be concerned before buying gold. How much should be charges or premium for certificates?
Thanking you in advance. Eid mubarak and salams to you and your family. Salams and eid mubarak to you and your family. I personally dont believe in bullion day trading as i dont see it any different than the regular online trading.
If you purchase on regular intervals, like once a month, then it doesnt matter what the price is as you will get an average price over time. I personally bought small amounts 4 grams last week and yesterday as the price isnt fluctuating on saturdays and sundays. I hope these answers were helpful. Thanks for your guidance. Insha allah i will not get into online trading as you have mentioned it is haram. I am residing in dubai and i will try contacting vijaya jewellers for pamp 24 kt.
But can u let me know how much gms is 1 oz. If u can give me the contact number of vijaya jewellers it would be very much appreciated. In Khaleej times in gold rates session they have given 24kt; 22kt; 18kt and they have also mentioned TT Bar. I have listed in the guide above a few shops in ajman that sell 24 kt bars, which are all located in the ajman gold souq.
The premiums would be higher in ajman, which is why i normally buy in sharjah. PAMP is the most well know private minter of gold worldwide and is based in switzerland. There isnt any brand called Swiss, but Swiss is normally used as a secondary word after PAMP, Credit or Valcambi to identify that they are a swiss brand. Emirates Gold is the first and most popular local mint in the UAE. Thank you again and have a great day Amjad. Before you buy the bar, do take a note of the price found on the khaleej times page, so you dont get ripped off.
From a little searching online, its possible that the gold souq has been relocated to the Al Bawadi Mall or is still located in an area that houses Al Badia Jewellery , Al Nakhada Jewellery , and Jasmin Jewellers . Please let me know whatever information you gather, so that it can be added to the guide.
The strange thing About Al Ain , I was asking the gold shops as if talking something strange that they do not understand or never heard of. I even doughted that people do buy Silver, it seems I have to pay a visit to Dubai or Sharjah Market to get a better understanding for the market. All in All and from your very good experience, do you recommend buying silver nowadays? I am really thankful to you for all the help you are giving to newly started people.
Have a great day Amjad. Did you find any other gold souq areas in Al Ain? Did you find any shops selling gold bars and coins? Glad that you did find a place that had the silver bar, but with a dirham premium, it may be worth coming to Dubai to buy it.
I felt the same way as you did when i was in qatar, as i wasnt able to find any silver bullion there. Silver bullion will always be available if there is a market demand for it from silver jewellery makers.
This will be easily seen when silver jewellery becomes more popular. Yes i do recommend people to buy silver, as i am of the belief that silver will rise more than gold in percentage, but i believe that everyone should store both precious metals.
Assalamo Alikom, I would like to thank you very much for all the information mentioned here.. I have been looking for this for long time as I bought a 1 kilo of Gold Etihad gold in a hurry and I still have it now for more than a month. Before reading this article all people guided me to Swiss Gold shop in Gold Center in Deira but I still think they are charging higher price.. I think they are selling etihad gold.. Can you tell me where to go next time to buy 1 kg of gold for a better price than this?
I wanted to buy 4 bars.. Salams Malek, 1 — Well as its a bar, shops would buy it from you at about dirhams below the 24k price per gram. Swiss Gold is a good shop if you dont want to leave the Gold Center building and i bought my first silver kilo bar from them. Its possible the way they calculate the gold rate in qatar makes it cheaper, but dont forget about the exchange rate, as 25, qatar riyals is over 25, uae dirhams and possibly the cost to send the money to qatar.
I will do some checking myself to see if i can find a shop which sells the TT bar below the market price. Thank you very much Yusuf.. You seem to be knowing all the extra charges added to the value of the bar when buying can you explain them to me.. How can I know it myself? Hi Malek, hope you told them that Yousuf Patan sent you. To my knowledge, anything over a TT bar has no premiums, so that would include a half kilo bar. Well the TT bar cost is published everyday in the newspaper, so I personally have never tried to calculate it and wouldnt waste my time doing so, as i could easily call up Abyad and they can give me its current price.
But if i wanted to know the kilo price from the TT bar price, just multiply it by 8. Didnt know they were charging an additional 75 dirhams over the TT bar price, as there isnt supposed to be any premiums on it.
Hi Malek, just checked Abyad and they said there wasnt any premium on the TT or kilo bar, but they charge a premium of around dirhams on the half kilo bar. I asked why and they said it is not a regular investment size and as such, they charge an extra premium. I had also called Lakhoos about selling them a bar and they said they would only buy a bar that they sold. Salam Yousuf, I just came from gold souq in Dubai..
I have a paper full of prices for mainly 1 kilo bar, half kilo bar, and TT bar, I have been to most of the shops you mentioned in this blog.
Could you pls tell where esle I could find pamp siver bars and do you have any information scotsdayle silver bars available in uae. Hi Jay, Abyad had the PAMP bar last week and assume they would get more soon, but they were the only place i found them at, but i never purchased it as they had a dirham over the local mints.
I bought the same 5 gram british sovereign silver coins from them and they dont have imprint on them for its purity. They told me its pure silver and i believe them, but i doubt it would be easy to sell in the local market. Is it costlier here or cheaper and any good reliable shops to buy coins or bars? Sorry Syed, havent been down to Muscat or Oman, so dont have any idea about the gold market there, but please let us know if you get any info on it.
The guy at the counter told the 8 gm coins they charge 2. O and for 5 Tola they charge 14 R. Though Malabar didnt have TT bars, you should be able to find them somewhere in muscat and also try money exchange outlets like Lakhoos and Purushottam Kanji.
As I mentioned above I went today to Dubai gold souq because the market is closed and you really can tell which shop will give you the best prices, so here is what I got:. So from all this I have a conclusion that all the mentioned above shops have a very close price for TT Bar except Al Abyad that is really charging more price as I told you before..
Al Bahrain is giving the best rates for both 1 Kilo Bar of Gold or I hope that you and others would find this study useful when they need to buy gold bars anytime during the week because it is not easy to compare the prices like this if the market is not closed. Al Bahrain bullion division is located in the forth floor in the Gold Center building and they close at 6: I thought they are the main dealer for Pamp bars so how come they are selling local bars??
Thanks Malek for doing the run around. I was planning to do it myself after so many people were asking about the larger bars and add it as a section to the guide.
Yes its not surprising that Al Abyad would be charging more, as they are a main distributor for Sharjah and Ajman. About their TT bar, its possible that they have a different means of calculating it, but the number looks completely wrong in any calculation i have made, as it should have been around ,, so i will be double checking that this weekend. The half kilo is likely not as common locally because only Emirates Gold mints it, or else all the other shops that had kilo and TT bars would also have it.
HI all living in dubai been purchase gold and silver from many dealers in gold souq after one year research for the best price quote is Al Bahrain jewellers is giving the best rates it located in gold center 4th floor. Al Salamo 3alaykom Yousuf , The one you are talking about is a different Bahrain Jewelry, the one with good prices and sells Etihad silver located at the 4th floor on the first elevator to your right when interring the gold center , they are charging a fair premium.
I have a question Mr. Yousuf , I am looking to buy silver coins , like the Canadian Mable leaf or the silver eagle , or the u. Will definitely check them both out in the next week or so. Well you wont find silver bullion coins anywhere, but you can find silver coins with high premiums at Abyad. The last time I was there, I met with the owners as one of the visitors of this guide went and bought 1. Well as i said just now, they have silver coins but with high premiums, and the owners even showed me the Australian Lunar Series and Chinese Lunar Series sets, each with 12 coins bought were 6 to 9 thousand dirhams.
How much you are asking for your silver maple leafs , if the price is good I will take the 5 pieces. I am willing to sell them for dirhams each, but unfortunately i only 2 remaining now, but i have 3 johnson mathhew [JM] 1 oz bars if your interested. Okay deal , how can contact you to complete the deal for all the mentioned. Thank you and have a nice day Amjad.
Today the gold rate is I am willing to buy 24 kt 20 gms bar. Are you interested in selling any of your collections? All i had for sale was canadian silver coins, which Amjad bought. If your looking to buy gold bars, stop by at any of the dealers mentioned in the guide, as i rarely ever sell from my collection. How this purity affecting the gold price? Should I just stick for ,9 purity?
The price of the ten tola bar are published everyday and you will see that the In joy alukkas they sell joy alukkas brand. They say the brand is alukkas brand. Is there any difference from their bars and PAMP. I dont know how much it will drop, but as a general run that i follow, when gold goes down more than 10 percent, its a good time to buy. Right now its around 9 percent down. So if your interested in buying, maybe buy half what you want now, and if the price goes down or up after the market opens tomorrow, buy the other half and in this way you have bought cost average.
I use this technique when i think the price may go down after a week or so, but still dont want to loose if the future price was higher. I doubt we will see those levels unless deflation takes place and if so, everything will be falling in value, even our wages, which still means that gold is a winner.
If the market gets heated up, yes the premiums may double to quadruple, but that only because of the shortages due to the demand and sellers knowing they can get that extra cash.
Please mention whatever information you have here in the comments so that we can all benefit from your knowledge. As mentioned by you brother, the premium on gold is 1. Hi Nibal, The daily quoted 1 kilo silver price already has a premium attached to it, thats why when you sell it they take around dirhams off the price, but havent seen them buying it back for 5 to 7 hundred cheaper.
Well when the time comes to sell it, you can always sell it to others rather than selling it to the dealer, if you want a better price. Dear Yousuf, How are you? I did a very very big mistake last week.. I am so sad that the value of the gold I have dropped so much and also for loosing the chance to buy gold now for low price.
Is it possible to see gold going lower and lower than this?? I am so worried my friend.. I bought gold last week as well when it was ish, but dont look at it as being a mistake as i choose not to keep my wealth in paper. So i see the current drop as another opportunity to buy more, which i will be today, as nobody knows what the price will be tomorrow or next week.
So what you should do is continuously buy in intervals every 1, 3, 6, or 12 months, whatever suits your budget and if gold goes down, you should buy more at that interval or simply save until gold goes down and buy then. Well the drop has been due to major drops in global stock markets, so once things stabilize, i presume the price will go back up.
I believe that gold will be going up soon as Diwali and the Chinese new year is coming up in the next few months, and it always goes up at that time. Yosuf, I am very glad to see your blog. Hope you have answers to my questions which is bugging me since long time. Now I buy 22k coins from Ajantha, which I get it for fixed price. Can you suggest me any other options?
In Abu dhabi, jeweler shop purchase gold at 6 to 7 aed per gram below its fixed price. Do you know any shop which gives good price in Abudhabi? Even though we get a good price in India for pure gold, taking the gold to india is hassle customs!!!
What is your opinion? Didnt understand what you meant by the question. If you meant any options of other gold products to buy, there are only bars and coins if you want investment gold or jewellery if you want something that is wearable.
Unfortunately, i havent done the run around in Abu Dhabi to give you suggestions, but see that they are charging around double the price of Dubai, so maybe you want to come down to Dubai if you want to sell it.
I dont know about the prices in india regarding selling gold, so i can only suggest in the UAE and if you want the best price in UAE, Dubai would be the place.
I have a question. If I carry several say 4 to 5 50g to g gold bars with myself when I leave Dubai, is there any problem in the airport? Is there any limitation? There wouldnt be any problems taking your gold with you outside of Dubai in the airport, it maybe a problem if your are bringing it into another country which may require you to pay taxes. Dear Yousuf, please inform the following: In sharjah which is the best shop who is taking less extra money with respect to market rate for buying Gold gram biscuit.
Also in Sharjah which is teh best shop who is taking less extra money on 1 KG Silver bar. I tried Abyad but they are asking AEd more. The best place is Abyad as they are a major dealer. You wont get 1 kilo silver cheaper than in Abyad in sharjah. If i find their price high, I go to Dubai and buy it there. Dear Yusuf, Thanks for your reply. Hi Shuaib, Its a matter of preference and a matter of budget.
If one has limited funds, i encourage them to buy the coins which have dirham premiums. If one has a reasonable amount and can purchase an ounce or more of gold, then i encourage them to get the bars. The bars are more recognizable world wide and as such come with a higher premium and of course they are being brought from switzerland, so shipping costs have to be taken into consideration, but the coins are minted locally.
Thank you Yusuf for your Amazing Blog, your info is priceless. I am a new comer to the GoldBug Culture, and i seem to have become addicted. I have a question for you regarding premiums. Am i being ripped off? What do you think is the lowest premium i should be paying in the UAE on Gold bars? The premiums here are much cheaper than the states, as i had mentioned in an earlier reply.
Of course the foreign coins will always have higher premium compared to bars. There isnt a need to haggle, as the premiums shouldnt vary from shop to shop, unless the salesman is trying to take more profits because the market is hot. Thanks so much for clarifying Yusuf! Sorry to bother you further. I havent bought platinum bars, so i cant suggest what premium you could get for it, but know that you would only find 1 oz bars of it.
Thanks again Yusuf, and keep it up your blog is awesome! Hi Jam, Please dont give up checking in abu dhabi, as it would be great if someone from down there would their searches in the city, so it could be included in the guide, until i make my way down there. Thanks for your recommendations Arshad. Would have loved to reply to your question but some of it is missing. Jam, I think they charge you more.
They charge me 90AED i. I really respect and appreciate the quality of information you have posted in this blog. I would be grateful for your feedback with the following. Hi Mahi, Glad to be of help. The popular brands that the guys in Abyad told me are Credit Suisse and Valcabmi. Thanks so very much Yusuf. You are an incredible resource.
I learned today that there is now a significant premium on gold because of the shortage in the local market. Do you have any insight into how long this shortage is expected to last? Well when gold or silver goes down in price, the resulting action is that alot of people start buying it, which makes the available inventory scarce, and then shops know they can charge a higher premium because of the shortage in the market.
Once more gold becomes available in the market or the price goes up enough, premiums will return to their usual prices. I missed my complete comments previously, Yousuf, I have a question for you, if you can help me, if I want to sell the gold bar to Anjali or any other dealer in dubai, which I bought from Abu dhabi, will it be difficult or they will buy normally, have you ever sold like that.
I prefer not to sell like you said, but sometime you might need to sell, and selling is too much difference in abu dhabi. Yes there will always be a time when you may need to sell your gold, thats what savings are for. Just a quick update for people who interested in silver. I just visited Anjali and bought 1 kilo of al ghaith silver bar.
The price today is and they charge me AED50 for the premium.. I decided to go directly to Anjali after i found out that Ceetees would charge me AED95 for the premium.
I also call al bahrain for the same and they said they run out of silver until upcoming tuesday. What do you think Lakhoo will charge me for the same as i called them but nobody answering? Hi Ashrul, One time that i checked anjali, ceetees and lakhoo, lakhoo had the cheapest price and anjali came in second.
They used different algorithms to decide the price, which was why the price was different. Do you have any smart way how can i buy 10 pieces of g silver bar in gold souq? Appreciate for the replies, Ashrul. If you want the IAR silver bar, you can get them at Jewel Trading on the 3rd floor of the gold center building as thats the place i bought it.
What is your opinion on Wearable 22Karat Jewellery for Investment purposes? Do you think it is a good idea, i am thinking to buy 22Karat Jewellery for my wife, this way to preserve wealth, and follow the Sunnah.
But i want to know if it is a good idea for investment or if it is a waste of money, because i heard when you sell back Jewellery, the vendors charge huge premiums, which end up in big loss, compared to Gold BARS. I would like to know your advise and experience. I convinced my sister to buy gold, but she doesnt like the idea of the gold just lying there, so she went out and bought 24k pendant from PAMP as well as bangles.
I think simple bangles and chains may likely have the lowest premiums you would find in jewellery. Whatever you choose to buy, see the amount over the current value of the gold content it has and see how much of a premium it is. That would be the best way to decide which jewellery to get, as you wont get that premium back when you sell it.
So i think i will proceed with this. Glad you were able to find the bangles for so low of premium. Yes the PAMP pendants are normally around double the premium the bars are, but as the bar is around 2 to 3 percent, the pendant being 5 or 6 percent isnt so bad.
Well they have oval shaped and even heart shaped pendants. Well i think the premiums are higher because they move slower than the bars and they produce less quantity of them, but still have to make the dices for minting them.
Do you have any phone number of Anjali Sharjah. Or suggest who will take the least premium in sharjah.. Hi Kumar, Well maybe because of the huge fall in the price of silver recently, they are charging these premiums, but I have never paid premiums for silver since i began buying. By the way, do you know how can i find Lakhoo in gold souk? Thanks in advance Ashrul. Well if you click on the Lakhoo link, there is a map shown, but all you have to do is walk into the gold souq from the side road with gold center on your right, and take a right at the T intersection in the souq, then take the 4th right turn and the shop will be in that side lane on the right.
If you get lost, ask anyone and they will tell you. Yes they are sometimes difficult to get on the phone. Well Commerzbank is the 2nd largest bank in Germany and they have bars minted with their logo from 1 gram to 1 kilo. To my knowledge, i havent seen any PAMP or Valcambi bars over grams, so maybe this is a common quarter kilo bar. Please let us know which shops you found it at and how much the premiums were, though i believe there shouldnt be any as its over the ten tola bar size.
Well if you ever do find the place, please make a note of it. I have noticed this trend since 2 days. I have one more question regarding Coins. Is that considered a good premium? As i know in UAE foreign coins carry larger premium.
Personally, I dont see any benefit of purchasing gold coins because of their high premiums, unless i lived in a country which was selling them, or atleast selling them at reasonable premiums. Well if we are normally spending around 1. Honestly i am buying the 1ounce coins for my collection purposes, otherwise i focus mainly on bars. Would be great if you can hook me up with a good authentic vendor with low premium.
Glad that that blog was beneficial to you. I will check up on the shop this week and see what prices they would be charging. I do personally prefer tt bars as no premium on them. Lakhoo, never had any availability, although they are cheapest, what I have found out, but looks like they are only dealing with jewellers and big merchants, so no stock left with them. Is Ajanta in the madinat zayed gold center? Is there a gold souq area in Abu Dhabi like we have in Dubai?
Ajanta is in Hamdan Str. Madinat zayed gold center 1 km away from this place. Mostly people purchase from Hamdan str. Thanks for that Shuaib. So where on hamdan street are these jewellery shops as hamdan street stretches from Al Nahyan Street Street 26 to Al Salam Street Street 8 and abit further. Yusuf Bhai, Inshallah, I will try my level best to get details.
Jewel shops are located in Liwa str-Hamdan Str intersection. Yousuf, To express my gratitude before my question, your blog is truly one of a kind. Thank you for sharing your valuable knowledge for free. I recognize your contribution in this area as both a labor of love and as having a pure passion for precious metals. Could you kindly point me to a list of buyers in Dubai? Thank you in advance and God bless you. Hi David, Its always a pleasure to share what little information i have gained and always great to hear others opinion on their thoughts of precious metals.
There has been alot of suspicion about gold coming from african countries , so if you are interested in selling it here, it would have to be stamped by a reputable refinery there which is on the LBMA or NYEX approved list, else i would advice you to take it down to emirates gold, etihad gold or al ghaith and have them mint them into new bars, so that they can be easily sold here. You can sell them to any of the major gold dealers, which i believe to be Anjali dubai and Abyad sharjah.
Salam Yusuf, As you are into this topic much longer than me I wanted to have tour view on the following: I took a look at some of the videos you posted from Mike Malone, Ron Paul and others. Did the UAE print dirhams in a huge quatity? So just wanted to have your view on that. Of course this is excluding the fact that paper money is debt and therefore not sharia compliant.
Salams Mohamed, Well the current situation is that the dollar is doing down in value and other currencies are following by devaluing their currency in order for their currency not to be to strong against the dollar. The dirham and about 80 or so other currencies are pegged to the dollar and as long as the USD is being devalued, these currencies will automatically be devalued to keep the pegged ratio.
If the UAE decides to depeg from the dollar, then things would get cheaper here, but its highly unlikely for that to happen if saudi does take the first step. UAE was going to revalue the dirham against the dollar in , but stated they would only do so if saudi did the same. The UAE does a number of different things to maintain the peg stable and i believe one of them is print more dirhams.
Well the situation in europe is a mess because all the euro currencies have the same currency and the poorer euro countries are heavily in debted to the richer euro countries and they are unable to pay those debts. Well the bank of england just came out with quantitative easing aka printing money last week, so things will only be get worse in europe. Yep paper money is haram as it has no link to gold and is a means of wealth being stolen from us whenever governments decide to devalue the currency.
Of course the US is the worse with paper money, as they can print more up any time they like and buy real things with it like gold, land, and food and the people stuck with the US dollars when it crashes will learn, just like other nations in history, that paper money is worthless. Yusuf, Thank you for your time.
While browsing this morning, I came across the same article you shared here. It gets in the way of honest deals. I will now have to exercise extra care in the procurement process and I will explore the options you suggested.
I want to purchase 1 kg silver bar, please advise which brand and from where should I purchase. If i need money latter can sale them back also?
Full details of brands and shops you can get 1 kilo silver bars are listed above on this page. You will be able to sale it back to the same store if you need money later. Thank you very much for your efforts and may I compliment your patience and attentiveness to this blog…pretty soon you will be the authority on gold in UAE.. Well each shop in the list has its advantages and i have given my recommendation next to each shop of what i think you should by from them.
Well the advantage of the multiple tt bars versus the half kilo bar is that you can buy them in increments as the price fluctuates and that you can sell them in increments incase you need money. Thank you brother Yousf for the information, although I am wondering why the TT have no premium but the g has a premuim? Well they used to make g roundish bars in a similar shape as the TT bar, but i heard it was easier to fake this size, so now the standard small investment grade gold bar is the TT bar.
PAMP and Valcambi still produce g square bars, but they are sealed in plastic packaging and as such come with additional premiums. Thank you for your contributions, so basically from a better investment point the TT is better since the premuim is paid only for packaging!! The TT is better as it has no packaging, so your not paying a packaging premium. With your permission, pamp and valacambi both comes in tt bar as well as gms, there is a premium due to the design and packaging of gms bar.
TT bar is open without any packaging and design so there is no premium. Did you find any update regarding that vendor is Sharjah who sells 1ounce coins AE, Maple, panda, etc at low premiums? Sell gold, Buy silver suggest experts… http: Personally, I buy gold for stability and silver for larger gains and plan to switch some of the silver for gold when the gold to silver ratio gets to around 30 to 1, so i could trade in my 1 kilo of silver for 1 ounce of gold.
At GB Jewellers, i noticed that they had Commerzbank TT, g, g, 50g and 1oz bars and when i asked why they werent stocking as many PAMP bars like they use to, the guy mentioned that the market was low on PAMP and as such the premiums were very high. He mentioned they could get g PAMP bars for a premium of 60 dhs six months back and now they get it for I asked who was dealing in the Commerzbank brand, and he said that its coming through banks like Mashreq bank, but they only sell it in bulk to dealers and not in small quantities for retail.
For details about my recent gold experience in qatar and dubai airport, check out my latest blog post. It really brings me a new horizon of knowledge. This time I would like to ask you about 2 bars of platinum.
This bar looks like as: John Matthew JM is one of the most well known private mints in the world based in the US, which is approved by all the major exchanges.
By the way, do you have idea where should I sell them and at what price they could be sold? Wouldnt really know where you could sell it as its not popular in the market here, but i think you could sell it at Abyad in Sharjah or at GB Jewellers in Dubai.
AOA Yousuf I m thinking to start bussiness in buy and sell 10 tola bars of gold in dubai is it profitable. Plz give me suggestion. Salams Asim, Well i think any gold and silver business would be profitable here, especially when more and more people are moving away from jewellery to bullion.
As i live in karachi most of people fimiliar the tt bars and trade into it also thats why i asked you about it. Doubt you will be able to lock in a price if you dont have the cash in their hands at that exact moment. What price are you looking for? I have the receipt and would have no problems furnishingit,while selling.
You should consider not selling all of them or maybe trading in some of them for smaller bars. The guys at Ceetees will likely do that for you. By the way, where did you get the 5 kilo bars from?
Hi Yousuf, Many Thanks for the usual brotherly advice. I did equire about selling it to India but the legal complexities are real constraint,will have to wait to sell it here itself. Hi Chandan, So where did you buy the 5 kilo bar from as i havent seen any here over 1 kilo and would like to add it to the guide.
You have there telephone numbers so i could get exact location. Its sad that they would be charging such a high premium when your buying such large bars. I think, we can make profit out of fluctuation on daily basis, which will give us more profit. Dear Shuaib, I personally dont get involved in such things, as i trade in my paper currency for real money and that differs from electronic paper trades that dont have any real money behind them, because there will likely come a time when you cant trade back the gains you made in paper trades for real money.
Any idea where to buy them in Dubai if possible? Also given your wealth of knowledge is there a better investment for them for around the same price as the 1kg coin would cost? Please be specific as I do. It know anything about silver or gold investing. I have only seen the 1kg silver australian coin in sharjah. It would be cheaper to buy it there australia and have it sent here i think. If you wanted a gold coin for a similar price of the 1 kg silver coin, you could find the 1 ounce american, australian, and south african gold coins at various shops and the gold atm machines.
You can always check khaleej times website or call up any of the gold shops and they can give you the daily price. I dont think there is a limit on the amount of gold you can take with you, but if you do take it with you, make sure to take the bill.
Do you know any particulars website to sell online? I hope all is well with you. Second, I was wondering if you can help me decide how much silver I should buy? As you mentioned on your blog you buy gold for stability and silver for bigger gains. Again, thank you very much for your valuable advice. Thank you Yosuf for your prompt reply, I really appreciate it. Your valuable advice is greatly appreciated, thanks a lot. Go for the TT bar, as its the smallest investment grade bar available and it will always be 2 dirhams cheaper per gram than the market price and doesnt have a making charge.