#gold traders in dubai

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A Guide To Finding The Best Gold Dealers In Dubai With Rakesh Rajdev

Have you been looking for the best gold dealer in Dubai? Look no further - Rakesh Rajdev is here to help! In this guide, we will discuss how to find the most reliable and trustworthy gold bullion dealers in Dubai with Rakesh Rajdev. Read on to find out more about the advantages of dealing with him and get some top tips on how to get the best possible deal.

Introduction to Gold bullion in dubai and Rakesh Rajdev

If you're looking to invest in gold bullion, Dubai is a great place to start. With its well-established gold market and numerous dealers to choose from, Dubai is a safe and convenient place to purchase gold bullion.

Rakesh Rajdev is a leading gold dealer in Dubai, with over 20 years of experience in the gold industry.  Rajdev is a highly respected figure in the Dubai gold market, and is well-known for his honest and transparent business practices. He offers a wide range of services to his clients, including storage, transportation, and insurance.

When it comes to buying gold bullion, Rajdev always recommends that investors do their own research before making any decisions. He also advises against investing more than 10% of one's portfolio in gold, as it is a volatile asset class.

If you're looking for reliable and trustworthy advice on investing in gold bullion, Rakesh Rajdev is the man to speak to. With his wealth of experience and knowledge of the Dubai gold market, he will be able to help you make the best investment decisions for your needs.

Benefits of Investing in Gold Bullion

There are many benefits to investing in gold bullion, including its ability to hedge against inflation and currency fluctuations, as well as its status as a safe haven asset during times of economic or political turmoil. Gold is also a highly liquid asset, making it easy to buy and sell when necessary.

When it comes to finding the best gold dealers in Dubai, there are a few things you should keep in mind. First, make sure you work with a reputable dealer who has a good reputation in the industry. Second, always get quotes from multiple dealers before making a purchase, so you can be sure you're getting the best price possible. Lastly, don't be afraid to negotiate on price - even if it's just a few percent - as every little bit can add up over time!

What to Look For in a Gold Bullion Dealer

When looking for a gold bullion dealer in Dubai, it is important to find one that is reputable and has a good track record. There are a few things to look for when choosing a gold bullion dealer:

-The dealer should be a member of the Dubai Gold and Jewellery Group (DGJG). This is the regulatory body for the gold industry in Dubai and ensures that members adhere to strict guidelines.

-The dealer should have a physical shop in Dubai where you can view the products before making a purchase.

-The dealer should offer competitive prices for gold bullion.

-The dealer should be able to answer any questions you have about gold investing.

Rakesh Rajdev: The Best Gold Bullion Dealer in Dubai

Rakesh Rajdev has been trading gold bullion in dubai for over 20 years. He is one of the most experienced and knowledgeable gold bullion dealers in the city. Rajdev has a deep understanding of the gold market and is an expert at spotting opportunities to buy and sell gold.

Rajdev is the owner of Gold Bullion International, a leading gold bullion dealer in Dubai. He has a team of experienced professionals who work with him to provide the best possible service to clients. Gold Bullion International offers a wide range of services, including buying and selling gold bullion, storage and transportation, and advice on investing in gold.

Rajdev is highly respected by his peers and is well-known for his integrity and professionalism. He is always willing to help clients get the best possible deals on gold bullion purchases. If you are looking for a reliable and trustworthy gold bullion dealer in Dubai, Rakesh Rajdev is the man you want to talk to.

Common Mistakes When Buying Gold Bullion

There are a few common mistakes that people make when buying gold bullion in dubai, which can end up costing them a lot of money. Here are some of the most common mistakes:

1. Not doing your research: With so many gold bullion dealers in Dubai, it's important to do your research and find one that offers the best prices and customer service.

2. Paying too much for gold: Many people pay too much for their gold because they don't understand the market or they're not familiar with the different types of gold available.

3. Not knowing what you're buying: It's important to know exactly what type of gold you're buying, as there are different purity levels and sizes available.

4. Buying from a dealer who isn't reputable: There are many scams and rip-offs in Dubai, so it's important to only buy from a reputable dealer.

5. Failing to negotiate: Always remember that you can negotiate on the price of gold, so don't be afraid to haggle!

Strategies for Finding the Best Deal on Gold Bullion

When it comes to finding the best deal on gold bullion, there are a few key strategies that can help you get the most bang for your buck. First and foremost, it’s important to compare prices from different dealers before making a purchase. This will ensure that you’re getting the best possible price on your investment.

Another key strategy is to look for dealers who offer discounts for bulk purchases. This can be a great way to save money if you’re planning on investing a significant amount of money in gold bullion. Finally, it’s also worth considering dealer reputation and reviews when making your decision. Choosing a reputable and well-reviewed dealer will help to ensure that you have a positive experience and avoid any potential scams.

Tips for Choosing the Right Gold Bullion Dealer

When it comes to investing in gold bullion, it is important to choose a reputable and experienced dealer. With so many options available in Dubai, it can be difficult to know where to start. However, by following a few simple tips, you can be sure to find the best gold bullion dealer for your needs.

First and foremost, it is important to research various dealers before making a decision. This can be done by reading online reviews or speaking with friends or family who have experience with investing in gold bullion. Once you have narrowed down your options, it is then time to compare pricing and services offered.

When considering pricing, be sure to take into account the type of gold bullion being purchased as well as any fees associated with the transaction. For example, some dealers may charge a storage fee for holding onto your investment while others may offer free storage. It is also important to consider shipping costs if you plan on taking delivery of your gold bullion purchase.

Finally, once you have found a few reputable dealers that offer competitive pricing and services that meet your needs, it is important to establish a good working relationship with them. This means being honest about your investment goals and expectations and keeping communication open. By following these tips, you can be sure to find the best gold bullion dealer in Dubai for your needs.

Conclusion

Rakesh Rajdev's guide to finding the best gold bullion dealers in Dubai is invaluable for anyone looking to invest in gold. His tips and advice will help you make an informed decision about which dealer is right for your needs, as well as providing guidance on how to get the most out of your purchase. With Rakesh's expertise and knowledge of the local market, you can be sure that you're getting a great deal when it comes to buying gold bullion in dubai.

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Gold Bullion In Dubai - The Most Profitable Opportunity

Dubai has a rich history when it comes to gold, and it is widely considered one of the best places to invest in gold bullion. Gold buying and trading has been an important part of Dubai’s culture for centuries, and today the city is home to some of the world’s most recognized gold marketplaces. Whether you’re looking to start investing in gold or simply want to learn more about the industry, our guide offers an introduction to understanding gold bullion in Dubai, how you can buy it, and why it makes such a great investment.

Gold Bullion In Dubai - Buying And Selling Gold Bars In Dubai

If you're looking to buy or sell gold bars in Dubai, there are a few things you need to know. First, the UAE has a VAT of 5%, so when buying gold bullion, you'll need to factor that into the price. Second, there are a few reputable dealers in Dubai that you can work with, but make sure to do your research before selecting one. When it comes to selling gold bars in Dubai, the process is relatively simple. You'll need to take your gold to a dealer and they will assess its purity and weight. Once they've done that, they will offer you a price for the gold and you can either accept or reject it. If you accept their offer, they will pay you in cash or bank transfer.

Buying and Selling Gold Bars

When it comes to buying and selling gold bars in Dubai, there are a few things you need to know. First, the city is home to some of the largest gold refineries in the world, so you'll be able to find bars of all different sizes and purity levels. Second, because of the high demand for gold in Dubai, prices can be quite volatile. Be sure to do your research before buying or selling so that you get the best price possible. Finally, remember that when dealing with gold bars, it's always best to use a reputable dealer. With these tips in mind, you're ready to start buying and selling gold bars in Dubai!

Bullion Trading Company Dubai

Looking to buy gold bullion in Dubai? There are a few things you should know first. Dubai is one of the world’s major trading hubs for gold, and as such, there are a number of companies that deal in the buying and selling of gold bullion. However, not all of these companies are created equal, and it’s important to do your research before selecting a company with which to do business. Here are a few things to look for when choosing a bullion trading company in Dubai: 1. A reputable company will be a member of the Dubai Gold & Commodities Exchange (DGCX). This membership ensures that the company adheres to strict regulations and standards. 2. The company should have a physical presence in Dubai. This way, you can be sure that they are knowledgeable about the local market and have established relationships with other players in the market. 3. The company should offer storage facilities in Dubai. This allows you to store your gold bullion in a safe and secure location, without having to worry about shipping it back to your home country. 4. The company should offer competitive prices for both buying and selling gold bullion. Be sure to compare prices from several different companies before making a decision. 5. The company should have a good reputation within the industry. You can check online reviews or ask around for recommendations from friends or acquaintances who have dealt with bullion

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Strategies for gold trading

For thousands of years, the world of money has accorded a unique status to gold. To some, it is “just” another precious metal. It’s evidently more than that, though. It is now considered a symbol of security, prosperity, and stability. Investors have to look for assets with no abrupt drops and volatility due to the nature of today’s financial markets. This consistency comes from trading gold in Dubai.

What is the gold?

Let’s take a moment to briefly describe the most valuable commodity in the world before discussing gold trading tactics.

These days, investors are searching for safe ways to add diversity to their holdings. That anticipation is exactly met by gold. Attracting potential investors is its reputation as a safe-haven asset against economic turmoil. Its past performance demonstrates that, even in times of financial crisis or unstable global gold market conditions, it is worthwhile to hold onto (and occasionally grow).

Five days a week, 24 hours a day, the gold market is open. The price of gold can be impacted by a number of variables, such as inflation, interest rates, and geopolitical developments. It is a good idea to think about the special qualities that set gold apart from other investing options before making any decisions.

What is the gold price today?

Investors can easily check the current gold price on our MT5 Trading platform and mobile applications.

Gold is a generally stable asset, although historically, due to a variety of financial, geopolitical, and economic variables, its price has fluctuated significantly. To make money from trading gold online, every investor needs to be aware of and comprehend these price fluctuations. It has thousands of years of history as a store of value and a medium of exchange. It was utilized as money and as opulent adornment in ancient and medieval cultures.

What is Short Selling & Long Buying Policy?

Short selling is a trading strategy where an investor borrows a security and sells it with the hope of buying it back at a lower price. The investor will profit if the security’s price falls. On the other hand, long buying refers to purchasing a security with the expectation that its price will rise in the future, allowing the investor to sell it at a profit. These two trading strategies allow investors to profit from both upward and downward movements in the market.

Gold mining stocks and commodities

Compared to real gold or futures contracts, gold mining stocks provide traders and investors an alternate means of getting exposure to the gold market. Gold spot prices (such as XAUUSD, XAUEUR, and XAUAUD) and other factors pertaining to the gold market and the larger commodities industry frequently impact these stocks.

Fundamental analysis in gold trading

Financial statements, production expenses, and mining corporations’ exploration potential may be included.

Technical evaluation

This tool is essential to determine the best times to enter and exit a gold mining stock trade.

In conclusion, gold mining equities provide exposure to a range of factors influencing the larger commodities sector while also providing an indirect means of participating in the gold market.

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HFM — World Leader in Online Trading | Regulated Broker

Introduction to HFM: A Trusted Global Broker

HFM’s Regulatory Credentials

A key factor that distinguishes HFM from many other online brokers is its strict adherence to regulatory guidelines. HFM is fully regulated by top-tier financial authorities, ensuring a high level of trust and transparency for its global clientele. The company holds licenses from:

Cyprus Securities and Exchange Commission (CySEC)

Financial Sector Conduct Authority (FSCA) in South Africa

Dubai Financial Services Authority (DFSA)

FSC (Mauritius)

This robust regulatory framework not only safeguards client funds but also ensures that HFM operates with the highest ethical standards. Clients can feel confident that their investments are secure, as the broker follows stringent rules regarding financial transparency and client protection.

Diverse Range of Tradable Assets

HFM offers one of the most comprehensive portfolios in the online trading industry, giving traders access to over 1,000 financial instruments across several asset classes, including:

1. Forex Trading

HFM is highly regarded for its forex trading services, with access to over 50 currency pairs including major, minor, and exotic currencies. The broker provides highly competitive spreads, starting from as low as 0.0 pips, combined with fast execution and advanced trading platforms like MetaTrader 4 and MetaTrader 5.

2. Commodities Trading

For those interested in commodities, HFM offers access to a broad range of markets, including gold, silver, oil, and more. These highly liquid markets provide traders with opportunities to speculate on price movements and diversify their trading portfolios.

3. Indices Trading

HFM clients can trade on major global indices such as the Dow Jones, NASDAQ, S&P 500, and many others. Indices offer traders exposure to the overall performance of a country’s stock market, and HFM makes it easy to capitalize on market trends.

4. Shares Trading

HFM allows clients to trade shares from some of the world’s largest companies. Whether you’re interested in tech giants like Apple and Google or established blue-chip firms, HFM provides competitive conditions for CFD trading on shares.

5. Cryptocurrency Trading

HFM’s cryptocurrency offering includes popular digital assets such as Bitcoin, Ethereum, Ripple, and Litecoin. These assets can be traded as CFDs, allowing clients to speculate on price movements without owning the underlying cryptocurrency.

Advanced Trading Platforms at HFM

MetaTrader 4 & 5

HFM offers its clients access to the industry-leading MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, known for their advanced charting tools, customizable interface, and wide range of trading features. Both platforms are available on desktop, web, and mobile devices, ensuring that traders can access the markets from anywhere in the world.

HFM App

In addition to MT4 and MT5, HFM has developed its own mobile app, which provides users with real-time market data, advanced charting tools, and seamless account management. The HFM app is available for both iOS and Android devices and is designed to make trading on the go simple and efficient.

Leverage and Risk Management

HFM offers flexible leverage options tailored to different regions and client categories. Traders can benefit from leverage as high as 1:1000, depending on their location and asset class. However, HFM also emphasizes the importance of risk management, providing a range of tools to help traders protect their capital, including negative balance protection and stop-loss orders.

Educational Resources and Tools

For those looking to sharpen their trading skills, HFM provides a wide range of educational resources, including webinars, tutorials, trading guides, and more. These materials are designed to assist both new and experienced traders in improving their strategies and staying up-to-date with the latest market trends.

Additionally, HFM offers a variety of trading tools to enhance the trading experience. These include:

Economic calendar

Trading calculators

Daily market analysis

Advanced charting tools

These resources, combined with HFM’s trading academy, make it an ideal platform for traders looking to deepen their understanding of the financial markets.

Client Support at HFM

HFM’s commitment to customer satisfaction is evident in its comprehensive client support services. Available 24/5, their multilingual support team can be contacted via live chat, email, or phone. Whether you need help with account setup, platform navigation, or trading issues, HFM’s professional support team is ready to assist.

HFM’s Commitment to Security

When trading with HFM, clients can be confident that their funds are secure. HFM uses segregated accounts to ensure client money is kept separate from the company’s operational funds. Additionally, HFM offers Investor Compensation Fund (ICF) protection, which provides compensation to eligible clients in the unlikely event of insolvency.

Moreover, the broker utilizes advanced encryption technology to protect client data and transactions, ensuring a safe and secure trading environment.

Conclusion: Why Choose HFM?

HFM’s combination of regulatory compliance, diverse trading assets, competitive conditions, and cutting-edge technology makes it one of the best brokers in the world. Whether you’re looking to trade forex, commodities, indices, shares, or cryptocurrencies, HFM provides the tools, platforms, and support necessary for success. Its global reputation, backed by numerous industry awards, confirms its position as a trusted and reliable partner for traders around the world.

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DRI's preliminary conclusion: 100kg gold belongs to Adukia

The Department of Revenue Investigation (DRI) has made a preliminary conclusion that Rakesh Adukia is the kingpin behind 100 kilos of gold smuggled into Nepal.

The gold brought from Hong Kong to Kathmandu under the name of Ready Trade Pvt. Ltd. was seized by the DRI team on July 18 at Sinamangal outside the Tribhuvan International Airport.

Traders Adukia, Deepak Malhotra and Sanjay Babaiya were dragged under the DRI's investigation radar ever since the gold was seized.

The DRI team that conducted a parallel investigation on the three persons concluded after 17 days that Adukiya is the main smuggler of the 100 kilos of gold. But it is not clear where Rakesh was delivering this gold.

However, since the Central Investigation Bureau (CIB) of the Nepali Police will conduct further investigation into this gold case.  There is a possibility that new facts will be unfolded in the days ahead.

"The initial conclusion of our investigation is that this gold belongs to Rakesh Adukia," an officer assigned to the investigation told Nepalkhabar.

Adukia has been out of touch since the day the gold was recovered in Nepal. It is alleged that he has been involved in smuggling gold since 25 years ago.

"While looking for the owner of 100 kilos of gold, we observed some suspicious activities of Adukia and came to the conclusion that this gold belongs to him," the officer added, "we will submit a report in a few days mentioning the facts we have found."

Adukia while speaking to Nepalkhabar has claimed that the gold is not his. He says that his name was used to protect the main smuggler and divert the matter.

With the permission of the CIB to investigate the gold smuggling case under organized crime, the investigation will proceed in a new way.

If the CIB also finds evidence, Adukia will be charged with organized crime and revenue evasion.

Adukia was found traveling to Hong Kong and UAE using an Indian passport. In the last nine months, he has traveled back and forth between Nepal and Hong Kong 14 times.

From September 2022 to July 2023, Adukia has traveled to Hong Kong from Nepal 14 times, shows the airport immigration records.

Although Adukia is a Nepali, it seems that he got a passport from the Indian mission in Hong Kong on July 3, 2010. His passport was renewed on July 10, 2018.

It is not clear how Adukia, who is doing business with Nepali citizenship, got an Indian passport.

On July 5, Adukiya came to Nepal from Hong Kong via Dubai. Nine days later, about 1 quintal of gold was seized by the DRI imported from Hong Kong.

After recovering the gold, the DRI has detained 19 people and taken their statements in the course of finding the owner. All of them have been kept in the custody of District Police Range, Lalitpur and Sanepa Police Station.

The DRI receives 'clue' after the arrest of Dawa Revenue has raided Sohrakhutte, Baluwatar, Thamel and Tokha in Kathmandu and seized various materials used to cast gold.

Dawa Chhiring was arrested by the DRI on July 29 after he was found smuggling gold while staying at Hotel Vienna in Thamel.

After arresting him, the DRI found some clues about the gold owner. Revenue has taken control of the hotel's documents.

The DRI team stepped up surveillance after discovering that Dawa was using Hotel Vienna to work with gold smugglers. Before that, a Chinese national, Zeqiang Lin, was arrested on July 20 after a connection was found with around 100 kg of gold.

The smugglers used to take the gold imported into Nepal and take it to the gold casting plant in Baluwatar for processing. His factory has been sealed by the DRI.

It is revealed that Lin and Dawa have been in contact since before. The DRI made the arrest after it was found that there was a meeting between Dawa and Lin at Hotel Vienna in Thamel before the arrest.

A source at the DRI suggests that Dawa himself may have managed Adukia's gold. However, more facts are being gathered.

Dawa is a Belgian citizen of Tibetan origin. Citizenship issued by the Kavre District Administration Office of Nepal and a passport based on that have been found with him.

Both the mobiles used by Dawa have been sent to the Forensic Science Laboratory of Nepal Police.

"We have sent the two mobile phones used by Dawa to the forensic lab, it may reveal more new facts," said the officer, "where and who had his connection with whom can be revealed." So far, Dawa is not ready to reveal anything in the statement.

Thamel is a hotbed of crime. He might be doing illegal business by staying in a Vienna hotel in such a place. No one will be allowed to enter that hotel,” he added.

Business of Babaiya Group: Processing gold, supplying it to the market The revenue team has also found the fact that a group called Babaiya is working in the management of smuggled gold in Nepal.

While searching for the owner of 100 kilos of gold, it was found that the smuggled gold that entered Nepal through Hong Kong was being sent to the market by the same group, Director General of the DRI Nawaraj Dhungana informed.

"Babaiya Group is doing the work of extracting the gold concealed in various goods by smugglers, changing its form and sending it to the market," he told Nepalkhabar, "It was found that both retail and wholesale are done by the same group."

According to him, the group manages all smugglers' gold in Nepal.

It is estimated that 7.5 quintals of gold imported into Nepal in the last two months have been supplied to the Nepali market and the Indian market by the same group.

Four to five groups in gold smuggling  It has been many years since gold smuggling started in Nepal. Gold has been smuggled continuously since the establishment of the multi-party democracy. However, the discourse hit the headlines after a large quantity of gold was seized outside the Tribhuvan International Airport recently.

According to the DRI, at least four or five groups were involved in the recent smuggling case.

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Gold Trade License in DUbai

A gold trading license in Dubai offers a wealth of opportunities for businesses looking to engage in the global gold market. With its strategic location, favorable tax regime, and robust infrastructure, Dubai is an ideal destination for gold traders. Whether you are a small startup or an established enterprise, obtaining a gold trading license in Dubai can provide you with the platform you need to succeed in this lucrative industry. By consulting with a business setup expert, you can ensure a smooth and efficient process, allowing you to focus on growing your gold trading business.

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GTRI Raises Concerns Over Precious Metal Imports Under India-UAE Trade Pact

Introduction

The Global Trade Research Initiative (GTRI) has voiced serious concerns about the surge in precious metal imports from the UAE under the India-UAE Comprehensive Economic Partnership Agreement (CEPA). This influx is impacting the domestic jewelry industry and potentially causing significant revenue losses.

Key Issues and Calls for Action

GTRI has called for an urgent investigation into the effects of CEPA, which allows unlimited imports of gold, silver, platinum, and diamonds from the UAE with zero tariffs in the coming years. This policy is expected to shift import business from banks to private traders and replace top suppliers with Dubai-based firms.

Revenue and Industry Impact

The think tank's report highlights that the zero-tariff policy could lead to an annual revenue loss of Rs 63,375 crore due to duty-free imports of gold and silver based on FY2024 import levels. Additionally, it could disrupt the domestic diamond and jewelry industry, particularly with major imports coming through GIFT City, which faces transparency issues.

Current and Future Tariff Changes

Presently, gold can be imported from Dubai at a 5% duty, but this will drop to zero in three years if the alloy contains 2% platinum. Similarly, silver imports from the UAE have surged due to an 8% duty under CEPA, compared to the general 15% duty, creating a significant tariff arbitrage.

Concerns Over Compliance and Money Laundering

GTRI also raised concerns about many imports not meeting Rules of Origin conditions, suggesting potential money laundering. The value addition process for silver imports is particularly questionable, prompting a call for a CAG audit to investigate pre-arranged deals and invoice manipulation.

Impact on the Jewelry Industry

The tariff concessions under CEPA are hurting India’s jewelry industry, with gold jewelry imports from the UAE increasing due to lower tariffs. The zero tariff on cut and polished diamonds under CEPA threatens India’s domestic diamond industry, which benefits from zero duty on rough diamonds and a 5% duty on cut and polished diamonds.

Specific Cases and Recommendations

GTRI founder Ajay Srivastava emphasized the problematic nature of the current situation, where silver bars are imported from Russia and other countries to Dubai, converted into granules, and then exported to India with minimal value addition. This process is raising concerns about meeting the rules of origin requirements.

Conclusion

GTRI's concerns highlight the need for a thorough review and investigation of the India-UAE trade pact to ensure fair import practices, safeguard domestic industries, and prevent significant revenue losses. The government must address these issues promptly to maintain the integrity of the country's trade policies.

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The History And Future Of Bullion Trading Dubai

Dubai has long been known as the city of gold, and for good reason. With its thriving bullion trading industry, it has become a hub for investors looking to buy or sell precious metals like gold and silver. But how did Dubai come to be such an important player in the global bullion market? And what does the future hold for this fascinating industry? In this blog post, we'll take a closer look at the history of bullion trading in Dubai, explore some of the key players in the market today, and offer insights into what may lie ahead for investors interested in buying or selling gold and silver bullion in this exciting city. So buckle up - we're about to explore one of Dubai's most intriguing industries!

The Impact Of Global Events On Bullion Trading In Dubai

Over the years, Dubai has become a key player in the global bullion market due to its strategic location and favorable business environment. However, like any other industry, bullion trading Dubai is not immune to the impact of global events. In fact, it is often greatly affected by them.

For instance, during times of political or economic uncertainty around the world, investors may turn to gold as a safe haven asset. This can lead to an increase in demand for gold bullion in Dubai and subsequently drive up prices. Similarly, if there are major fluctuations in currency exchange rates or interest rates globally, this can also have an impact on bullion trading activity.

Another factor that can influence bullion trading trends is changes in government policies related to taxation or import/export regulations. For example, if the UAE were to introduce new taxes on imported gold or silver products from certain countries such as India - one of Dubai's main sources for precious metals - this could affect supply and demand dynamics within the local market.

It's clear that global events play a significant role in shaping the landscape of bullion trading activities within Dubai. As such, investors must stay abreast of these developments and be prepared to adjust their strategies accordingly based on changing market conditions.

APM Bullion - The Perfect Destination For Purchasing Gold And Silver Bullion In Dubai

When it comes to purchasing gold and silver bullion in Dubai, APM Bullion is the perfect destination for investors and collectors alike. APM Bullion is a well-established dealer of precious metals with years of experience in the industry.

One thing that sets apart APM Bullion from other dealers in Dubai is their commitment to quality. They only sell gold and silver bullion products that have been authenticated by internationally recognized organizations such as the London Bullion Market Association (LBMA) or the Swiss Federal Mint.

APM Bullion has an extensive collection of gold and silver coins, bars, and rounds from around the world. Their inventory includes popular items like American Gold Eagles, Canadian Maple Leafs, South African Krugerrands, Australian Kangaroos, Chinese Pandas, among others.

Another advantage of buying from APM Bullion is their competitive pricing. They offer some of the best prices on gold and silver bullions in Dubai due to their strong relationships with suppliers worldwide.

APM Bullion provides excellent customer service. Their knowledgeable staff can assist customers in selecting the right product based on their investment goals or collecting preferences. The team also offers advice on market trends and precious metal storage options.

If you’re looking for a reliable dealer for your gold and silver bullions needs in Dubai, consider visiting APM Bullion's showroom located at Al Karama Center near BurJuman Metro Station or visit their website apmbullion.com today!

Understanding The Differences Between Gold And Silver Bullion In Dubai

Gold and silver bullion are two of the most popular forms of investment in Dubai. While both metals share similar qualities, they also have some notable differences.

Firstly, gold is a more expensive metal than silver. This means that when it comes to purchasing bullion, gold will always be priced higher than silver based on weight or volume. However, this also means that gold tends to hold its value better during times of economic uncertainty.

Secondly, while both metals are considered safe-haven assets, gold is often seen as the ultimate hedge against inflation and currency fluctuations. Silver has similar properties but tends to be more volatile due to its industrial applications.

When it comes to storage and transportability, silver is easier to handle because it's less dense and lighter in weight compared to gold. This makes it ideal for smaller investments or for those who need portability.

Understanding the differences between gold and silver bullion can help investors make informed decisions about their portfolios. Whether you choose gold or silver depends on your investment goals and risk tolerance level.

Apm Bullion - Rakesh Rajdev Company For Gold And Silver Bullion Trading

It's clear that bullion trading Dubai has a rich history and an even brighter future. And if you're looking for the perfect destination to purchase gold and silver bullion in Dubai, APM Bullion is the way to go.

Not only does APM Bullion offer high-quality products at competitive prices, but it also provides exceptional customer service. The company's founder, Rakesh Rajdev, has built a reputation for integrity and transparency in all his dealings.

Whether you're new to bullion trading or a seasoned investor, APM Bullion can guide you through the process with ease. With its vast selection of gold and silver bars and coins from around the world, there's something for everyone at this reputable establishment.

So why wait? Visit APM Bullion today to experience firsthand why it's the top choice for gold and silver bullion trading in Dubai.

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Forex, Bullion, Bulk Commodities, and Trading in Asia

Introduction

Asia, the world's largest continent, is a key player in global trading markets. Its diverse economies and strategic hubs make Asia a leader in forex, bullion, and bulk commodities trading. This article explores these vital sectors and highlights Asia's significant influence on global trade.

Forex Trading in Asia

The forex market in Asia is characterized by high liquidity and considerable volatility. Leading trading centers like Tokyo, Hong Kong, and Singapore drive the region's forex activities. Economic activities in major economies such as China, Japan, and India cause significant market movements.

Key Features:

High Liquidity: Large trading volumes ensure ample liquidity, facilitating smooth transactions.

Volatility: Economic data releases and geopolitical events often cause significant price movements, presenting opportunities for traders.

Time Zone Advantage: Asia's trading hours overlap with those of Europe and the Americas, creating a continuous trading cycle.

Bullion Trading in Asia

Bullion trading, particularly in gold and silver, is deeply rooted in many Asian cultures. Major bullion markets in Asia include Shanghai, Mumbai, and Dubai. Gold remains a preferred investment asset, driven by both cultural demand and market dynamics.

Key Markets:

Shanghai Gold Exchange: The largest physical gold exchange globally, playing a crucial role in setting benchmark prices.

India: One of the largest consumers of gold, influenced by cultural and religious practices, significantly impacts global gold prices.

Dubai: Known as the "City of Gold," Dubai is a pivotal trading hub for gold and other precious metals.

Bulk Commodities Trading in Asia

Bulk commodities such as iron ore, coal, and agricultural products are essential to Asia's industrial and economic activities. The continent's rapid industrialization and urbanization, particularly in China, drive substantial demand for these commodities.

Key Commodities:

Iron Ore: Critical for steel production, with major imports from Australia and Brazil.

Coal: Vital for energy production and industrial processes, with significant imports from Indonesia and Australia.

Agricultural Products: Asia is a major importer of soybeans, corn, and palm oil, essential for food security and industrial uses.

Reputable Trading Markets

Among these prominent trading hubs, Global Femic Services has emerged as one of the most reputable trading markets in Asia. Known for its reliability and integrity, Global Femic Services  provides state-of-the-art trading platforms and comprehensive market insights. Traders and investors worldwide trust GFS for its transparent operations, competitive pricing, and exceptional customer support, solidifying its position as a cornerstone of Asia's trading landscape.

Conclusion

Asia's prominence in forex, bullion, and bulk commodities trading underscores its vital role in the global economy. With dynamic markets, strategic trading hubs, and growing demand for various commodities, Asia continues to shape global trading patterns and influence market trends. As the continent progresses, its impact on the world of trading will undoubtedly expand further.

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Get A New Experience In Trading Al Etihad Gold Bar With APM Intl DMCC

Are you interested in trading? Then know that you should choose the right place for trading. There are many locations, but if you wish to trade at the best place then it’s Dubai. The city of Dubai is one of the top locations where you can trade gold or silver. Advancement in technology has made many things easier, especially trading.

With digitization starting to ramp up in the sector, one can carry out safe and secure transactions in Dubai. Especially you can carryout comfortable and easier trading in the UAE. UAE is the premier trading hub for precious metals such as gold and silver.

So, where you can carryout safe trading? You can choose the APM Intl DMCC company which is run by Rakesh Rajdev. We all know that in the year 2020, the gold commodity trade reached a new height. It is said that the estimated amount was around 58 billion dollars. Hence we can say that the jewellery industry faced massive growth during the global pandemic.

For trading Al Etihad gold bar you can visit APM Intl DMCC, Dubai. With proper research, you can understand that the Etihad gold bar traded is of high quality. Anyone can trade the Al Etihad gold from the companies run by Rakesh. You don’t have to think that this APM Trading will be a challenging task since at APM Intl DMCC you can trade from anywhere in the world easily.

Why Trade With APM Intl DMCC For Al Etihad Gold Bar?

At APM Intl DMCC, you can get physical Al Etihad gold bar and silver bars. Also, if you wish to carry out wholesale purchases then you can take advantage of the APM trading. If you are new to the world of wholesale trading, especially in other countries, then you can trust APM Intl DMCC run by Rakesh Rajdev. Also, if you wish to get the traded bars delivered you can carry them out with the help of these services.

With the rich history and professional services, you can trade the Etihad gold bar and silver bar here. There is always a huge demand for precious metals. Hence if you are in the jewellery industry, then this is the best place to get Al Etihad gold and silver. Since the company follows the rules and regulations strictly, it's always best to trade here without any worries.

Since the precious metals are available at a reasonable price you will find its time and money saving. Also, another reason why Dubai is the best spot for precious stone trading is that they have low tax rates. You can easily buy and sell gold bars and silver bars with international trading. We offer high-quality services with a high level of transparency, quality and trust so that we can make our customers feel satisfied.

Thus, if you need a partner to trade precious metals for trading or business then APM Intl DMCC is the best choice for you.

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Dubai Multi Commodities Centre

Dubai, the vibrant jewel of the United Arab Emirates, stands as a beacon of innovation and prosperity in the Middle East. At its heart lies the Dubai Multi Commodities Centre (DMCC), a dynamic free zone that has emerged as a pivotal hub for global trade and commerce. Established in 2002, the DMCC has rapidly evolved into a thriving ecosystem, fostering the growth of diverse industries and facilitating seamless business operations. With its strategic location, state-of-the-art infrastructure, and business-friendly policies, the DMCC has become the preferred destination for entrepreneurs and investors seeking to capitalize on the region's boundless opportunities.

Dubai Multi Commodities Centre (DMCC) - A Catalyst for Growth

The Dubai Multi Commodities Centre (DMCC) is more than just a free zone; it is a catalyst for economic growth and development. Spanning over 200 hectares in the heart of Dubai, the DMCC is home to over 18,000 companies, ranging from multinational corporations to SMEs and startups. Its strategic location, adjacent to the Jebel Ali Port, one of the largest container ports in the world, provides unparalleled access to global markets, making it an ideal destination for businesses looking to expand their footprint.

Business setup in Dubai within the DMCC offers a streamlined process, enabling entrepreneurs to establish their presence with ease. From company registration to obtaining licenses and visas, the DMCC provides comprehensive support every step of the way. Moreover, with its innovative online portal and dedicated customer service team, setting up a business in the DMCC is both efficient and hassle-free. Whether you're a budding entrepreneur or an established corporation, the DMCC offers a range of customizable solutions to meet your specific needs.

Dubai Multi Commodities Centre (DMCC) - Driving Innovation and Excellence

Innovation lies at the core of the DMCC's ethos, driving continuous growth and excellence across its various sectors. From gold and precious metals to diamonds, tea, and agro commodities, the DMCC is home to a diverse range of industries, each supported by cutting-edge infrastructure and world-class facilities. The DMCC's specialized business districts, such as the Gold and Diamond Park and the Tea Centre, provide a conducive environment for collaboration and innovation, fostering synergies among industry players and driving value creation.

The Dubai Multi Commodities Centre commitment to sustainability and environmental stewardship sets it apart as a global leader in responsible business practices. Through initiatives like the Dubai Carbon Centre of Excellence and the Dubai Gold and Jewellery Group's Responsible Sourcing Program, the DMCC is actively promoting sustainable practices and ethical standards within its ecosystem. By harnessing the power of technology and innovation, the DMCC is shaping the future of trade and commerce, driving sustainable growth and prosperity for generations to come.

Business setup in Dubai within the DMCC offers unparalleled advantages for entrepreneurs and investors alike. With its tax-free environment, 100% foreign ownership, and full repatriation of profits, the DMCC provides a conducive ecosystem for business growth and success. Moreover, its strategic location at the crossroads of East and West offers easy access to emerging markets in Asia, Africa, and beyond, making it an attractive destination for companies looking to expand their global footprint.

Dubai Multi Commodities Centre (DMCC) - A Gateway to Global Markets

The DMCC's strategic location, world-class infrastructure, and business-friendly policies make it a gateway to global markets. With its state-of-the-art facilities and seamless connectivity, the Business Setup in Dubai DMCC serves as a bridge between East and West, facilitating trade flows and investment opportunities across continents. Whether you're a manufacturer looking to export your goods or a trader seeking new markets, the DMCC offers a strategic advantage, providing access to a network of over 17,000 companies from 170 countries.

Businesses operating within the DMCC benefit from a range of support services, including trade finance, logistics, and market intelligence, enabling them to navigate complex global markets with confidence. Moreover, the DMCC's robust regulatory framework and transparent legal system provide a secure environment for business operations, ensuring peace of mind for investors and stakeholders alike. With its commitment to excellence and innovation, the DMCC is poised to shape the future of global trade, driving growth and prosperity in the years to come.

Business setup in Dubai within the Dubai Multi Commodities Centre is a strategic decision that offers long-term benefits for companies of all sizes. Whether you're a startup looking to establish your presence in the region or a multinational corporation seeking to expand your operations, the DMCC provides the ideal platform for success. With its unparalleled infrastructure, business-friendly policies, and access to global markets, the DMCC offers a unique opportunity to unlock your company's full potential and thrive in the dynamic landscape of the Middle East

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Compare Forex Brokers — Best Forex Brokers for Beginners

Your ideal choice for a forex broker should be well-regulated in its local jurisdiction, accept clients from your country, and have tight dealing spreads and a sufficient variety of currency pairs and other assets to suit your trading needs.

Published By | SmartFX | Sep 10, 2024

best forex brokers in dubai

Best for Overall for Beginners: Smartfx.com

Top forex, gold, oil Trading Company & Brokers in Dubai | SmartFX ranks №1 as our choice for the best forex broker for beginners in the U.S. The broker is strictly regulated by the NFA and CFTC, while its subsidiaries are overseen by 6 other major regulators around the world.

Why We Picked It: Top forex, gold, oil Trading Company & Brokers in Dubai | SmartFX is widely regarded as the top forex broker for beginners due to its user-friendly platform, comprehensive educational resources, and 24/7 customer support. They offer a variety of tools and tutorials to help newcomers grasp the complexities of forex trading along with a 5% cashback deal for new account openings by U.S. residents. The round-the-clock customer service is especially valuable for beginners who might feel overwhelmed by the forex market.

Best for Simplified Trading Platform: | SmartFX

Top forex, gold, oil Trading Company & Brokers in Dubai | SmartFX is becoming the go-to choice for forex traders seeking a straightforward yet effective trading platform. Tailored for modern traders, it has a user-friendly interface that streamlines trade executions, especially for those who prioritize simplicity over complex features.

How to Choose a Forex Broker as a Beginner

Choosing a forex broker as a beginner can be a daunting task given the amount of options available. However, focusing on a few key factors can simplify the process and help you select a broker that suits your needs. Here’s a some guidelines to help you make an informed decision:

Regulation and Security

Check broker regulation: Ensure the broker is regulated by a reputable financial authority such as the U.S. Commodity Futures Trading Commission (CFTC), the UK’s Financial Conduct Authority (FCA), or the Australian Securities and Investments Commission (ASIC). Regulation provides a level of security and oversight, protecting you from fraudulent practices.

Verify credentials: Cross-check the broker’s regulatory credentials on the regulator’s official website that corresponds to the country you are trading from to confirm their authenticity.

Account Types and Minimum Deposits

Account options: Look for brokers that offer a variety of account types to accommodate different trading styles and budgets, including demo accounts for practice and learning.

Minimum deposit requirements: Choose a broker with a minimum deposit requirement that aligns with your budget. Many brokers offer accounts with low or no minimum deposit requirements, which is ideal for beginners.

Trading Platform and Tools

Platform usability: The trading platform should be user-friendly, intuitive, and compatible with your preferred device (desktop, web, or mobile). Popular platforms like MetaTrader 4/5 or cTrader are widely recommended.

Technical tools and features: Ensure the platform provides essential tools for technical analysis, charting capabilities, and automated trading options.

Spreads and commissions: Compare the spreads (difference between bid and ask prices) and commission structures. Lower costs mean higher profitability, especially for beginners with smaller capital.

Additional fees: Be aware of other potential fees such as withdrawal charges, inactivity fees, and overnight financing rates (swap rates).

Leverage and Margin Requirements

Leverage options: Understand the leverage options offered by the broker and how they align with your risk tolerance. Higher leverage allows for larger trades with a smaller capital but increases the risk for loss.

Margin requirements: Check the margin requirements to ensure you understand how much capital is needed to maintain your positions.

Customer Service and Support

Availability and accessibility: Look for brokers that offer great customer support available through various channels (phone, chat, email) and during trading hours.

Language and response time: Ensure customer support is available in your preferred language and check reviews for their response time and helpfulness.

Educational Resources

Learning materials: A good forex broker for beginners should offer educational resources such as webinars, tutorials, articles, and demo accounts to help you learn and practice trading.

Market analysis: Access to daily market analysis and insights can be beneficial for understanding market trends and making informed trading decisions.

Deposit and Withdrawal Options

Convenience and flexibility: Check the deposit and withdrawal methods to ensure they are convenient and flexible for you. Look for options that are secure, low-cost, and easy to use.

Processing time: Consider the processing time for deposits and withdrawals to avoid delays in funding your account or accessing your money.

Reputation and Reviews

Broker reputation: Research the broker’s reputation through online reviews, forums, and trader communities. Look for consistent positive feedback and check for any major complaints or issues.

Time in the market: Brokers with a longer track record in the market often have more reliability and stability.

Trading Instruments and Market Access

Range of instruments: Ensure the broker offers a wide range of trading instruments, including major, minor, and exotic currency pairs, as well as other assets like commodities, indices, and cryptocurrencies if you plan to diversify.

Market access: Confirm that the broker provides access to the markets you are interested in trading.

Additional Resources

Demo trading: Before committing real money, use a forex demo account to practice trading and understand how the broker operates.

Seek recommendations: Talk with experienced traders or financial advisors to get recommendations based on your needs and goals.

Join forex communities: Engage with online forex communities and forums to learn from other traders’ experiences and insights.

With these guidelines in mind, you’ll be well-equipped to choose a forex broker that aligns with your trading goals and provides a solid foundation for your trading strategy.

Best Forex Brokers for September 2024

Foreign exchange (forex) traders have access to the largest and most liquid market in the world, 24 hours a day, five days a week. The best forex brokers operate under strict regulatory supervision, offer robust research and analytical tools, provide access to a wide range of assets, deliver strong customer support, and more — all while maintaining competitive, transparent pricing.

Top forex,gold,oil Trading Company & Brokers in Dubai | SmartFX provides a streamlined trading experience across its collection of 3rd-party and proprietary platforms. Speedy order execution, access to automated trading algorithms, and the company’s proprietary Performance Analytics feature, which helps traders understand their personal trading, are among the many features that make the platform stand with the industry’s top companies. But where Top forex,gold,oil Trading Company & Brokers in Dubai | SmartFX really shines is in its proprietary mobile apps. The platform offers superb customizability, robust portfolio analysis, deep research, easy-to-digest education, innovative tools, and more — all in a well-designed, intuitive mobile experience that prioritizes what matters most to traders.

Top forex,gold,oil Trading Company & Brokers in Dubai | SmartFX requires high account balances to start earning interest on uninvested cash, however, and a very high volume of trades is needed to benefit from active trader discounts. Lastly, product offerings for U.S. clients are limited to spot forex trades.

Frequently Asked Questions What Is Forex Trading?

Forex (or FX) trading entails trading currencies, contracts for differences (CFDs), indexes, commodities, spread betting, cryptocurrencies, and more on the global foreign exchange market, the largest and most liquid asset market in the world. In the forex markets, currencies trade against each other as exchange rate pairs. The EUR/USD would be a currency pair for trading the euro against the U.S. dollar, for example.

The forex markets exist as spot markets, as well as derivatives markets, offering forwards, futures, options, and currency swaps. Investors trade in the forex markets as a hedge against international currency and interest rate risk, as a means to speculate on geopolitical events, and to diversify their portfolios, among other reasons.

Is Forex Trading Legit?

Forex trading is legitimate. The trading of currencies is a massive global market that sees trillions of dollars of transactions every day. It also serves a crucial function in the global economy by helping to settle transactions across borders. Foreign exchange trading is also a very active market, where world events, country-specific releases, and general news have a 24/7 impact on the values of one country’s currency against another. Forex traders establish positions with the hopes of benefiting from this price action, often using leverage to increase potential profits.

In principle, forex trading isn’t very different from stock trading. Due to the size and global reach of the market, however, forex trading is attractive to scammers at the broker level. If a company is promising you guaranteed returns or raising other red flags, that firm is probably not legitimate, even though the broader forex market is. One of the key things we look at in our forex broker reviews — and, in fact, the data we put the highest scoring weight on — is whether a forex broker is regulated by a trusted regulator like the Commodity Futures Trading Commission (CFTC).

Is Forex Trading Profitable?

Forex trading can be profitable, and the same could be said for every type of investing. There is no one way to be profitable in investing, but forex traders tend to do well when they have a defined trading strategy, control their overall trading exposure and are mindful when using leverage.

This does not mean there aren’t investors who can make money in the forex market in other ways. George Soros made over a billion dollars in a deep short against the British Pound in the 1990s. That trade probably wouldn’t have been as massive if he was running a risk-controlled trading strategy, but it was made possible by his already significant capital reserves and a strong conviction. For the average forex trader, however, it is better to find your ideal trading timeframe, adopt a style that fits, avoid over-leveraging, and cut your losses while they are small.

Which Forex Brokers Accept U.S. Traders?

Forex trading is popular worldwide, with more traders outside of the United States than within it. Nonetheless, the U.S. remains one of the largest financial hubs and the U.S. dollar makes up half of the most popular currency pairs. Brokers catering to U.S. traders must be regulated by the CFTC and hold membership in the National Futures Association (NFA). The rules and enforcement regime these brokers face is much more stringent than firms operating out of less well-regulated jurisdictions.

It is also worth noting that some large stock brokers offer access to limited forex trading. Interactive Brokers stands out as a rare trading platform that does forex and a wide range of asset classes equally well.

What Does a Forex Broker Do?

Forex brokers are like other brokerages — they match a buyer with a seller. They maintain a trading platform that monitors price data for currency pairs across the network of institutional forex participants and exchanges and allows users to trade these pairs. FX brokers make money off the spread on trades as well as any platform related fees.

Beyond simply facilitating trading, forex brokers set the rules around a trader’s use of leverage and determine how much will be available under what specific terms. A best forex broker will also include some additional resources to support traders. These may be in the form of educational resources or unique tools to support trading. That said, the core job of a forex broker is to allow you to buy and sell currency pairs. It can be hard to measure how well a forex broker does when you don’t know what they do. That is why we evaluate how well these forex brokers perform for you, including how trustworthy they are, what support they provide, and how the value they provide balances against the costs.

Is Forex Good for Beginning Investors?

Forex trading can be complicated, but it’s certainly possible for beginning investors to diversify their portfolios by trading currencies and other forex assets. It would be wise to exercise caution and take the time to educate yourself on the assets in which you wish to trade. There’s a wealth of education and research resources available through a number of forex trading platforms, so take the time to avail yourself of this information.

How Do I Start Trading Forex?

First and foremost, do your research. Beginning investors should educate themselves on the wealth of research and educational resources available through trading platforms and sites such as Investopedia.

Next, compare forex brokers, choose one that suits your trading needs, and open an account.

Then you’ll want to build out your strategy for trading in the forex markets.

Finally, open, monitor, and close your first position. And you’ve successfully become a forex trader.

How Much Money Do I Need to Begin Forex Trading?

You can start with as little as $100 in most cases, but it’s important to note that forex trades are made in standard lots of 100,000 units of currency. This may require you to invest more than $100.

We researched and reviewed 18 forex brokers to find the best forex trading companies you see in the list above. Below is the full list of companies we researched along with links to individual company reviews to help you learn more before making a decision:

How We Chose the Best Brokers for Forex Trading

Our commitment to providing unbiased, comprehensive reviews of forex brokers is rooted in extensive research and expert analysis. We evaluated 18 forex brokers based on rigorous criteria, focusing on key aspects such as regulatory oversight, costs, trading experience, and available offerings. Our methodology ensures that our recommendations are based on reliable data and a thorough understanding of the industry.

To gather data, we sent a questionnaire to each of the 18 brokers, covering multiple areas critical to a forex trader’s experience. Our researchers and editors verified the responses and supplemented the data with additional online research and direct communication with each broker. This research was conducted between May 13 and July 30, 2024, ensuring that our evaluations reflect current information.

Our proprietary scoring model evaluated each broker across 11 major categories and 73 weighted criteria, plus an additional 15 non-weighted criteria. The overall ratings are a weighted average of the weighted criteria, ensuring a balanced and fair assessment.

Some brokers also demonstrated their platforms live via videoconferencing, and our experts conducted hands-on testing with live accounts to further validate the platforms’ functionality and user experience. This comprehensive approach allows us to present an unbiased, detailed review of today’s best forex brokers.

For more information, read our full methodology explanation.

Forex Trading online:Best Platforms,Brokers 2024 | SmartFX

smartfx brokers offer forex and CFD trading with the best online forex trading platforms and 24 hour live support.

Learn more about forex trading and the forex market:

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The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.

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Nepal’s dubious bullion connection with companies in Dubai

Kathmandu. FinCEN Files has unveiled the names of companies trading in smuggled gold in Dubai. A study of the transactions of those companies has also revealed that those companies have exported gold to Nepal too. It has been found that Kaloti Jewellery Internationsal DMCC and Viren Jewellers, accused of gold smuggling in Dubai, have been exporting gold to Nepal.

Chuda Mani Upreti, alias ‘Gore’, the main accused of the ’33 kg gold smuggling incident’ of January 2018 has given a statement in the District Court Morang that he used to make most of his gold purchases at Viren Jewellers. In another instance, the  FinCEN papers have shown  dubious transaction between Kaloti Jewellery and  Sasta Trading of Balkumari, Lalitpur Sub-Metropolitan City-8.

According to a disclosure made by  International Consortium of Investigative Journalists (ICIJ), an international network of investigative journalists on the basis of the documents prepared by FinCEN, the Kaloti Jewellery International DMCC of Dubai made illegal purchases of gold from countries in conflict and from other illicit sources related to theft, smuggling and criminal activities.

It has been exposed through the FinCEN Files that Sasta Trading Company Limited belonging to Tribhuvandhar Tuladhar, chair of Nepal China Chamber of Commerce and Industries, used to buy gold from this company dealing in illegal trade and import to Nepal.

A study of the Nepali gold transactions with these companies, conducted by Investigative Journalism Center of Nepal, shows that the ’33 kg gold incident’ is also linked with international gold smuggling racket. Studies show that Viren Jewellers and Kaloti Jewellery, with which Gore and Sasta Traders traded respectively, are interrelated.

The corona pandemic caused a heavy decrease in gold import the previous fiscal year. What is noteworthy, however, is that out of the 2 thousand 400 kg gold, 1 thousand 650 kg has been imported from Dubai.