It’s pretty clear to all of us that the United Arab Emirates are the hub of gold trading in the world as it is home to gold refineries, bullion dealers, bullion investment firms and traders of gold coin and jewellery.
Your question shouldn’t be where to buy gold in Dubai instead, it should be how much can I invest because there are so many options of buying gold in whole UAE.
How and Where To Buy Gold in UAE?
Let’s suppose you can invest up to $5000. In that case, your best bet would be small dealers. Fortunately, all dealers in UAE charge nationally set prices for precious metals. However, sometimes, there is a premium added to the price which is also known as the maker’s fee. These premiums are low as compared to the western prices of bullion bars, especially the ones that are produced locally.
If you want to make a large investment in gold, then it is fair to reach out the large dealers or maybe even the gold investment houses. Kaloti is one of the local producers and traders of gold souk. There are lots of other producers located in the Jeremiah Lake Tower, which is the business district of Dubai the same place where Dubai Multi-commodities Center is also located.
You can also choose digital bullion trading offered by the new bullion traders via the Dubai Gold and Commodities Exchange.
Best Gold Dealers in UAE
Here are some of the best bullion dealers in UAE:
- Al Bahrain Jewellers
- Emirates Gold
- Al Etihad Gold
- Kaloti Precious Metals
- Gold Standard DMCC
- Dhab DMCC
- National Metal DMCC
- National Bullion House
Buying Gold Online
The most common option to buy gold as an investment is to buy it online through a licensed gold dealer. The only online retailer who has the certificate for selling and storing your gold is Regal Assets.
You can find the current Gold rates in Dubai on our website: business24-7.ae
Buying Gold from Gold Souks
Ask anyone about the best gold souks in the UAE or probably in the entire Middle East and they name Deria Gold Souk. They have the largest collection of jewellery and gold bullion. The City of Gold says that this Souk holds ten tons of gold on average at a given time. It is visited by investors and tourists alike. It is home to multibillion Dollar dealers of bullion and some of the finest gold refineries. On top of this, the prices are reasonable and the premium ranges from 0.5 to 1 percentage.
The New Gold Souk, Al Raffa, and The Gold Diamond Park, Sheik Zayed Road, also fall in the category of the largest gold Souks in the city.
Bullion Manufacturers in UAE
There are plenty of local bullion bar producers and large-scale gold refineries in UAE that sell gold at a low premium. You can also find exotic bullion manufactured in the USA, UK, Switzerland and Australia.
The most notorious local bullion bars are produced by Kaloti, the largest gold refinery in the city. Then we have 24K reproductions of UK gold monarchs that are sold in most of the souks. PAMP, the Swiss manufacturer of bullion is also building its credibility in UAE.
Here is the list of the major UAE gold refineries and bullion producers:
- PAMP Gold
- Emirates Gold
- Al Etihad Gold
- Kaloti Precious Metals
- Gulf Golf refinery
- Precious Metal Refiners
- Gold Standard DMCC
- Nadir Gold DMCC
Are There any Risks in Buying Gold in UAE?
When buying bullion in UAE, always watch out for counterfeit gold. Although the Emirates authorities identify fake bars and coins through a tough evaluation process, still some dealers manage to sell fake gold. No matter where you are buying gold from, always carry out the basic testing.
We say this because even the biggest dealers of gold bullion can be selling you counterfeit gold since this happened in December 2015 in the UAE Bullion Market. It also happened in the USA which is why Tulving and Merit Gold are out of business.
A gold dealer giant Gold AE was caught in a counterfeit and they owe alleged money of 25 million dollars to the victim. Even though the authorities are doing what they can to get the victim their refund and there are multiple civil suits against Gold AE too, but from what it appears, the money is lost.
So, whenever you are buying gold, for safe purchase, take delivery. If you have to build a large digital bullion account or an account for the bullion allocated in UAE, make sure you do so at multiple locations to spread the risk.
What are the Best Ways and Options to Buy Gold Online in Dubai?
With the world’s economy becoming more and more unstable, buying and storing precious metals offshore has gained popularity. Dubai is one of the biggest trading ports in the world, having a beneficial strategic position, tax-free benefits, combined with low storage costs, it is a “go to” location for investors worldwide and possible online buyers of that precious metal.
Here are the main reasons to buy gold online in Dubai:
- Tax Benefits
- Political Insurance
- Litigation Protection
The government has very strict regulations bagged by a certification process (by the DCLM) which ensures only the highest standard and purity gold to be purchased in Dubai via online forms. The price range of this precious metal in Dubai is still among the best in the world, but you also need to know that different sellers attach different handling and storage fees so make sure you choose the right one to handle your purchase. However, if you want to buy gold online in Dubai, you should only do so from a reputable gold dealer and by the current gold rates in Dubai. This will save you from any unnecessary headaches in the future.
Here are some of the key factors you should consider, before buying gold online:
- History of the company
- Safety of their storage
- Customer service
- Online Reviews
- Company policies
- Buyback policy
A company we can give our stamp of approval and fits the criteria is Regal Assets. They have been ranked #20 by INC 500 and have been featured in Forbes, Bloomberg, Market Watch, Reuters and many other publications. With over 1000 positive reviews on Trustlink , an A+ rating on BBB, AAA Rating at BCA – something very few companies EVER achieved in the precious metals industry. A few days ago Regal Assets became the first company in UAE to be accredited with the DMCC licence to trade cryptocurrencies what adds a lot of trust to the brand and makes it a real authority in the investment sector.
When it is time to liquidate your assets, they offer a buyback policy, 7 days a week and guarantee to have the funds in your possession within 24 hours of sale.
You can request the free gold investment kit here.
How To Store The Gold You Have Bought Online?
You should always go for segregated storage with low fees that don’t eat up your value of precious metals. Always make sure your metals are stored apart from others (segregated) and that you have an exclusive storage box. This way you can ensure that the metals you buy, are the same as purchased. On top of that, you can go and audit them at any given time.
On the other hand, commingled or allocated storage is where your precious metals are stored with others and only documented as yours.
If you would like to store your metals in Dubai or Singapore, get in touch with an expert.
Storing your Metals in a Bullion Vault
This is still the best and safest way of storage for your precious metals because of the following reasons:
Insurance – Regal Assets offer you insurance for the market value by the worlds leading investment insurance company Lloyd’s of London.
Safety – The metals you purchase with Regal, are stored in one of the top 5 safest bullion vaults under the Almas Towers operated by Brinks and holding high volumes of precious metals. You can read more about the storage in the Almas Towers here.
Costs – many investors don’t know that the ETF managed metals are expensive and the cheaper and arguably safer alternative is a bullion vault.
When buying precious metals online, make sure you do your due diligence and buy from a reputable company like Regal.
Our Guide To Buy Gold In Dubai (Online and Offline)
Have you ever wondered about the benefits of investing in gold bullion?
Gold was used as a form of money long before we started to create our own diverse currencies. Indeed, there’s something inherently valuable about gold, thanks to its finite supply and luxurious nature. Many experts agree that gold is a valuable investment because it’s one of the world’s most stable assets, less likely to suffer from common problems with inflation than things like traditional bonds, or stock investments.
Gold can be a safe haven for investors, and a unique way to diversify your portfolio. After all, when the financial markets and stocks go down, gold moves independently, often rising in worth. Additionally, it’s worth noting that physical bullion in silver and gold are currently the only assets on the market that are not exposed to problems like counterparty risk, and consistently hold onto their historical value and purchasing power. Everyone from central banks to retail collectors and institutional investors tout the benefits of gold.
Different Types of Gold Investment
Gold bars are the investments that you associate with banks vaults in movies. Gold bars are produced by private and government mints and can range in sizes all the way from those as small as a single gram, to those as large as 400 ounces. Gold bars usually come with specific serial numbers, and some come in tamper-proof cards that contain information about assets, and the signature of a Chief Assayer. Serial numbers are often useful if golden bars are held in a segregated storage space or trust. The low fabrication costs associated with gold bars mean that it’s often cheaper to get your hands on this form of gold than it is to invest in rounds or coins. This ensures that you can begin to accumulate more gold for your investments at a lower price per ounce.
Gold rounds are the coin-shaped golden investments produced primarily by private minting companies. These rounds come with beautiful craftsmanship that rivals government mints, though they don’t have any face value, which means that you won’t be able to use them as legal tender. Private mints can come with many unique and beautiful designs for their rounds, and you can purchase these coin-shaped gold pieces in many different sizes.
Perhaps the most common way to invest in gold is with coins, government mints that are distinguished from rounds with a face value. The value that is printed on golden coins allows them to be used as tender within the country in which they are issued. Gold coins typically come with a higher premium than standard gold bullion because it takes extra work to fabricate these components. However, when the spot price of gold increases overall, then you can rest assured that the price of coins will rise with it. You can buy a pure gold coin in sizes that range all the way from 1 gram, to 1kg.
Understanding the Price of Gold
If you’re thinking of investing in Gold bullion, then one of the first things you’ll need to know is the price of what you’re paying for. Here are some ways to figure out the best prices of gold.
Gold Spot Prices
The spot price for gold is simply the foundation on which prices of gold are determined. Most gold providers will base the prices of their products off the gold spot price, using the latest and most accurate information available in the investor marketplace. There are plenty of websites out there that will also display the current spot price for gold on their websites as it changes so that you’re constantly aware of the latest value of your investments. Since prices can fluctuate, it’s important to look for a time to invest when spot prices are low.
Spot Price Alerts
If you want to make sure that you’re definitely getting the best price for your gold investment, then you can always set up a Spot Alert with a specialized investment company. Today’s gold sellers allow you to set alerts at levels that you’re willing to pay, so you’re ready to jump into action as soon as the value of gold drops to a price that you can afford. All you would need to do to get started is set up an account, and you can start checking out the best prices for gold immediately.
- 1 How and Where To Buy Gold in UAE?
- 2 What are the Best Ways and Options to Buy Gold Online in Dubai?