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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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How to Monitor Gold Market Rates in Dubai for Maximum Profit
Gold has always been regarded as a symbol of wealth and stability. If you're looking to invest in gold in Dubai, keeping a close eye on the gold market rate in Dubai is essential to maximize your profits. Dubai's gold market is globally recognized for its competitive prices, tax benefits, and purity standards, making it a go-to hub for gold traders and investors alike. However, successfully navigating this market requires a strategy built on understanding the market trends, monitoring prices regularly, and timing your purchase or sale for the best possible returns.
1. Understanding the Gold Market in Dubai
Before diving into how to monitor the gold bar price in Dubai, it’s essential to grasp the factors that influence gold rates. Gold prices in Dubai fluctuate due to global market dynamics, including:
Global economic conditions: Geopolitical events, inflation, and economic instability tend to drive gold prices up as investors look for safe-haven assets.
Currency exchange rates: Since gold is priced in U.S. dollars globally, the strength of the U.S. dollar against other currencies directly affects gold prices in Dubai.
Demand and supply: Local demand, especially during festivals and holidays, can also impact prices, albeit to a lesser extent than global factors.
Dubai’s gold market is regulated, and prices are aligned with international rates, ensuring you get competitive rates when buying or selling gold in the region.
2. Tracking the Gold Market Rate in Dubai
To make informed investment decisions, you need to stay updated on the gold market rate in Dubai. This requires monitoring price changes daily and observing long-term trends.
Here are some reliable ways to track gold prices:
Online platforms: Many financial websites and apps offer real-time updates on gold prices in Dubai. These platforms provide not only the daily rates but also historical price charts, allowing you to analyze trends over time.
Gold trading platforms: Various digital platforms and apps allow investors to monitor gold prices, track market fluctuations, and even purchase or sell gold online. These platforms often provide notifications when the price hits a certain level, ensuring you don’t miss out on profitable opportunities.
Local news outlets: Many financial news outlets in Dubai publish daily gold rates. Checking these sources regularly will give you a good sense of current price trends.
It’s crucial to compare prices across multiple sources to ensure you’re working with the most accurate and up-to-date information.
3. Timing Your Gold Purchases
Once you've established a method to monitor the gold market rate in Dubai, the next step is learning how to time your purchases. While the market can be unpredictable, there are certain strategies you can employ:
Buy during dips: Gold prices often fluctuate throughout the year, with occasional dips that can provide a good entry point for buyers. Watch for these dips and aim to purchase when the price is lower than its recent average.
Monitor global events: As gold prices tend to rise during times of economic uncertainty, watching global events can help you anticipate when the price might increase. If there are signs of economic instability, consider buying gold before prices go up.
Seasonal trends: Gold tends to see price increases during festive periods when demand spikes. In Dubai, the price of gold may rise during religious festivals and shopping events. It’s wise to avoid buying gold during these high-demand periods if you’re looking to make a long-term investment.
4. Understanding the Difference Between Spot and Retail Prices
When monitoring the gold bar price in Dubai, it's important to distinguish between the "spot price" and the actual retail price you’ll pay. The spot price refers to the current market price for gold, while the retail price includes additional costs such as:
Making charges: These are the costs associated with crafting gold into bars, coins, or jewelry. The amount varies depending on the product you’re purchasing.
Value-added tax (VAT): Dubai imposes a 5% VAT on gold purchases, but in certain cases, such as buying investment-grade gold, VAT may not apply.
To ensure you’re getting the best deal, always inquire about these additional charges and factor them into your decision-making process.
5. Selling Gold for Maximum Profit
Knowing when to sell your gold is just as important as knowing when to buy. The ideal time to sell is when the gold market rate in Dubai is higher than the price you originally purchased it for. Here are some tips to ensure you maximize your profit:
Watch for price surges: Gold prices can surge due to global events, economic instability, or market demand. Stay informed and consider selling when the price peaks.
Keep an eye on exchange rates: Since gold is traded in U.S. dollars, fluctuations in currency exchange rates can impact the value of your gold in AED. A favorable exchange rate can lead to higher profits when selling.
Consider timing during peak seasons: Gold prices often rise during the festive season due to increased demand. If you’re looking to sell, these periods might offer a better return on investment.
6. Long-term Gold Investment Strategy
Gold is often considered a long-term investment that provides stability in uncertain times. By regularly monitoring the gold market rate in Dubai and timing your purchases and sales strategically, you can optimize your gold investment portfolio for maximum profitability.
Some strategies include:
Diversify your investment: Instead of putting all your funds into one type of gold product, consider diversifying between bars, coins, and other forms of bullion. This approach helps spread risk.
Hold during downturns: If the gold price drops after your purchase, don’t rush to sell. Historically, gold tends to recover over time, especially during economic downturns.
Conclusion
Monitoring the gold market rate in Dubai and keeping a close eye on the gold bar price in Dubai is key to making profitable decisions. By staying informed about global economic trends, currency fluctuations, and local market dynamics, you can optimize the timing of your purchases and sales. Whether you're looking to make a short-term profit or hold gold as a long-term investment, staying on top of market rates will help you maximize your returns.
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ED conducts search operations in multiple cities in illegal online forex trading case
The search operation was carried out as part of an ongoing probe in the case of illegal online forex trading
The Enforcement Directorate (ED), Mumbai Zonal Office, conducted search operations under the Prevention of Money Laundering Act (PMLA), 2002, at various locations in Mumbai, Chennai, Kolkata, and Delhi on April 18. The operations were carried out as part of an ongoing probe in the case of illegal online forex trading through the OctaFx trading platform, the ED informed on Saturday.
During the course of search operations, bank funds to the tune of ₹2.7 crore have been frozen and various incriminating documents, digital devices have been found and seized.
“The ED initiated investigation on the basis of a First Information Report registered by Shivaji Nagar Police Station, Pune, against several persons for their involvement in showing false temptations of high returns and duping persons in guise of forex trading through the OctaFx trading platform,” the ED official said.
The investigation revealed that the OctaFx online trading app and website are operating in India in association with India based entity M/s OctaFx India Private Limited. The OctaFx app and its website have not been authorised by the Reserve Bank of India (RBI) to deal in forex trading.
The ED officials said that this forex trading platform is widely promoted on social networking sites and is following referral-based incentive models for acquiring users to their platforms.
“It has emerged in the investigation that multiple accounts of different Indian banks were being shown to investors and users on OctaFx trading app/www.octafx.com for collecting funds in the guise of facilitating forex trading. The OctaFx also has manipulated trade activities and information shown on its platform ultimately resulting in net loss to the traders,” the officials informed.
The said accumulated funds, after defrauding these investors and users, were transferred to multiple e-wallet accounts or to bank accounts of dummy entities.
“This way, M/s OctaFx India Pvt. Ltd., M/s OctaFx, and their entities have cheated investors in the guise of forex trading thereby earning a profit of more than ₹500 Crore from Indian region,” the ED official added.
A portion of these funds were layered through a web of complex transactions with the help of shell entities and remitted abroad to its related entities in the garb of bogus freight services, import of services, etc.
On the basis of investigation conducted and PoC identified so far, assets to the tune of ₹35 crore in form of crypto currencies, bank balances, gold coins etc. were attached by the ED. The search operations unveiled a network of chartered accountants and professionals, who gave fake certificates of remittances and facilitated bank accounts/companies for layering of such funds.
It has also been revealed that the entire process of reflecting account numbers of dummy entities, managing the funds collected in these accounts and diversion of the same are being managed and operated by owner of OctaFx group entities based in Spain, Russia, Georgia, and Dubai.
“M/s OctaFx has also hired several Indian individuals working in Spain and Russia for operating the OctaFx trading platform and inducing Indian citizens to invest in forex trading through OctaFx. We are still investigating the matter,” the ED officials said.
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Vintage Bullion DMCC: A Beacon of Excellence in Precious Metals and Beyond
Vintage Bullion DMCC has cemented its status as a leader in the world of precious metals and commodities trading. Established in September 2003, within the Dubai Multi Commodities Centre (DMCC), Vintage Bullion DMCC was set up with a clear objective: to excel in the trading of precious metals. Over the past two decades, the company has expanded its horizons by diversifying into precious stones, jewellery, and non-ferrous metals, emerging as a premier force in the region's commodities industry. This blog explores the journey of Vintage Bullion DMCC, its strategic diversification, and how it continues to set benchmarks in a highly competitive global market.
The Significance of DMCC and the Rise of Vintage Bullion
When Vintage Bullion DMCC was incorporated, the DMCC was still in its formative years, created to foster the growth of the commodities market in Dubai and elevate the city's standing as a global commodities hub. As one of the first companies to initiate operations within DMCC in October 2003, Vintage Bullion DMCC leveraged the free zone’s comprehensive infrastructure, tax incentives, and strategic location. The company's founders saw the potential in Dubai’s booming commodities market and built Vintage Bullion into a well-recognized name across the industry.
From the outset, Vintage Bullion focused on precious metals trading, particularly gold and silver. Dubai’s reputation as the “City of Gold” provided the perfect environment for such an endeavor. As gold became synonymous with wealth and security, Vintage Bullion DMCC thrived by positioning itself as a trusted supplier and trader in the region and beyond.
Diversification into Precious Stones and Jewellery
Recognizing that success in the commodities market often lies in diversification, Vintage Bullion DMCC expanded into trading precious stones and jewellery. The luxury markets of Dubai, coupled with global demand for high-quality diamonds, sapphires, and emeralds, created an opportunity that Vintage Bullion was quick to seize. By broadening its product offerings, the company not only catered to a larger clientele but also fortified its revenue streams.
Jewellery trading, in particular, allowed Vintage Bullion DMCC to tap into Dubai’s role as a global luxury destination. The emirate is home to a thriving jewellery market, driven by international tourists and residents with a strong appetite for high-end products. Vintage Bullion DMCC capitalized on this by offering a diverse range of products that appeal to different tastes and markets.
Entering the Non-Ferrous Metals Market
One of the key turning points in Vintage Bullion DMCC’s evolution was its strategic entry into the non-ferrous metals sector. Non-ferrous metals, which include aluminum, copper, and lead, play a crucial role in industrial applications. As economies grow and industrial activities intensify, the demand for these metals increases. Sensing this opportunity, Vintage Bullion DMCC expanded into this segment to diversify its operations further and tap into an expanding market.
The global shift towards sustainability, renewable energy, and electric vehicles has also boosted demand for non-ferrous metals. Vintage Bullion’s decision to diversify into this sector has positioned it well to capitalize on these trends. As industries invest more in technologies that rely heavily on metals like copper and aluminum, Vintage Bullion DMCC has established itself as a reliable supplier capable of meeting the rising demand.
Industry Recognition and Memberships
One of the critical factors that bolster Vintage Bullion DMCC's standing in the commodities market is its association with internationally renowned organizations. The company is an associate member of the London Bullion Market Association (LBMA) and a full clearing member of the Dubai Gold and Commodities Exchange (DGCX). These memberships are significant in the highly regulated and scrutinized world of precious metals trading.
The LBMA is the global authority for the over-the-counter bullion market and sets the standard for ethical and transparent trading. Vintage Bullion’s association with LBMA highlights its commitment to adhering to the highest standards of integrity, security, and transparency in the precious metals industry. This affiliation ensures that Vintage Bullion DMCC is regarded as a trustworthy partner in the international bullion market, where reputations are built on ethical business practices and rigorous compliance.
Likewise, its full clearing membership with the DGCX allows Vintage Bullion DMCC to clear and settle trades efficiently. This membership offers significant advantages, including direct market access and the ability to streamline operations for clients looking to trade in commodities derivatives. With these credentials, Vintage Bullion DMCC continues to earn the trust and confidence of global clients.
Long-Term Investments and Real Estate Ventures
In addition to its core commodities trading business, Vintage Bullion DMCC has prudently diversified its investments into long-term assets. One of the most notable areas of investment is the company's involvement in real estate funds across the Middle East. Dubai’s booming property market has long been a magnet for investment, and Vintage Bullion DMCC’s foray into this sector aligns with its strategy of securing stable, long-term returns.
Real estate in Dubai is a key pillar of the city’s economy, attracting both regional and international investors. Vintage Bullion DMCC’s substantial shareholdings in various regional real estate funds offer a safeguard against volatility in the commodities market. This diversification into real estate provides the company with a balanced and resilient investment portfolio, enhancing its ability to navigate market fluctuations while maintaining steady growth.
A Team of Industry Leaders
The success of Vintage Bullion DMCC is underpinned by the strength and expertise of its management team. The company is led by a highly qualified group of professionals with robust academic credentials and extensive experience in their respective fields. This leadership team brings a wealth of knowledge in commodities trading, investment strategies, and risk management, ensuring that the company remains agile and competitive in a fast-evolving global market.
What sets Vintage Bullion apart is not just the technical expertise of its team but also its ability to adapt to new market conditions. The team’s forward-thinking approach has enabled the company to identify opportunities for growth, such as entering the non-ferrous metals market and expanding its investment portfolio into real estate. This proactive leadership has been key to Vintage Bullion’s sustained success and its ability to thrive in both good and challenging market conditions.
The Road Ahead: Expanding Horizons
Looking towards the future, Vintage Bullion DMCC is well-positioned to continue its upward trajectory. The commodities market is in a constant state of evolution, shaped by factors such as technological advancements, environmental sustainability, and global economic shifts. As the world transitions to cleaner energy and electric mobility, the demand for both precious and non-ferrous metals will likely continue to rise.
Vintage Bullion DMCC’s strategic foresight in entering the non-ferrous metals market aligns with these trends, providing the company with new avenues for growth. Meanwhile, its core business of precious metals trading remains robust, supported by global demand for gold and other safe-haven assets, particularly in times of economic uncertainty.
Conclusion
Vintage Bullion DMCC’s journey is a testament to its vision, strategic thinking, and commitment to excellence. From its humble beginnings in 2003, the company has grown into a powerhouse within the DMCC, diversifying its trading portfolio to include precious metals, stones, jewellery, and non-ferrous metals. Along the way, it has garnered the trust of the global market through its affiliations with industry bodies such as the LBMA and DGCX, while also securing its future through investments in real estate.
As Vintage Bullion DMCC continues to expand its horizons, it remains a beacon of excellence in the commodities industry, setting benchmarks for others to follow. With a strong leadership team and a diverse portfolio of assets, the company is poised for continued growth in the years to come.
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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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Rizan Jewellery is one of the best gold bullion shop in Dubai, bullion dealers in Dubai, and precious metal dealers, and Dubai gold dealers, gold trading, gold coins all across UAE.
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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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ED searches locations across India in OctaFx illegal online forex trading case The ED has said that OctaFx India Pvt Ltd, M/s OctaFx, and their entities have cheated investors in the guise of forex trading and earned a profit of more than Rs 500 crore from the Indian region
The Enforcement Directorate (ED) on Thursday conducted search operations at various locations in Mumbai, Chennai, Kolkata and Delhi in connection with a case related to illegal online forex trading through international brokers, namely the OctaFx trading app and octafx.com.
During the searches, bank funds to the tune of Rs 2.7 crore have been frozen and various incriminating documents and digital devices have been seized, the ED said on Saturday.
The ED launched a money laundering investigation into the scam on the basis of a first information report (FIR) registered at Pune’s Shivaji Nagar police station. The FIR was lodged against several people for their alleged involvement in luring people with high returns and duping them under the pretext of forex trading through the OctaFx trading platform. The OctaFx online trading app and website are operating in India in association with India-based entity M/s OctaFx India Private Limited. According to the ED, the app and its website have not been authorised by the RBI to deal in forex trading. The trading platform is widely promoted on social networking sites and follows referral-based incentive models for acquiring users to their platforms.
The ED has said it has emerged in the investigation that multiple accounts of different Indian banks were being shown to investors/users on the app and website for collecting funds in the guise of facilitating forex trading.
The app and the website manipulated trade activities and information shown on its platform ultimately resulting in net loss to the traders. The said accumulated funds, after defrauding these investors/users, were transferred to multiple e-wallet accounts or bank accounts of dummy entities, the agency statement reads.
This is how M/s OctaFx lndia Pvt Ltd, M/s OctaFx, and their entities have cheated investors in the guise of forex trading thereby earning a profit of more than Rs 500 crore from the Indian region, the ED has stated. A portion of these funds were allegedly layered through a web of complex transactions with the help of shell entities and remitted abroad to its related entities in the garb of bogus freight services, import of services, etc.
The anti-money laundering agency so far has attached assets to the tune of Rs 35 crore in the form of cryptocurrencies, bank balances, gold coins etc.
The ED’s probe also exposed a network of chartered accountants and professionals, who gave fake certificates of remittances and facilitated bank accounts/companies for the layering of such funds. It has also been revealed that the entire process of reflecting account numbers of dummy entities, managing the funds collected in these accounts and diversion of the same are being managed and operated by the owner of OctaFx group entities based in Spain, Russia, Georgia and Dubai, the central agency has stated.
M/s. OctaFx has also hired several Indian individuals working in Spain/Russia for operating the OctaFx trading platform and inducing Indian citizens to invest in forex trading through OctaFx, the ED has said.
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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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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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Which broker is best in the UAE?
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