With the expansion of Deira through the Deira Enrichment Project and the Gold Souk Extension, establishing relationships and extending opportunities for other vendors to enter into the UAE market is of mutual benefit. Continuing to build on the community from a cultural and business perspective relies on the ongoing cultivation of opportunities and expanding platforms to support gold and Jewelry vendors.
According to Ithra Dubai, the Forum brings together jewelers and multi-channel manufacturers, allowing them to collaborate and to develop innovative retail solutions in answer to the needs of the jewelry retail business. Ithra Dubai, wholly owned by the Investment Corporation of Dubai, will start a phased handover of a number plots in Phase 1 of the project as early as Q2 this year.
Its rich portfolio of projects is designed to embrace diversity, shape happy communities, and bring prosperity to many. Ithra Dubai aims at delivering mixed-used developments on an ambitious scale, which incorporate world-class retail, commercial, residential, and leisure concepts. For more information about Ithra Dubai, please visit www. From the waterfront apartments overlooking The Creek, to an extension of the Deira Souk, the development will create a bustling hub of life that will add to the already rich tapestry woven by communities past and present.
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On another note, one can also buy from an investment fund that runs on investments in gold bullion. There are a number of brokerage houses that trade in these kinds of investments. Purchasing gold in these forms is yet another viable option, where you pay taxes on all the gains, which you reap from selling the gold at collectible rates.
Although this option allows generating a lot of revenue, a large part of it goes into paying taxes. Bullion is a large amount of physical gold, of all purity standards, and is usually evaluated on the basis of weight. Mostly cast as ingots or bars, bullions are sold by distributors, bullion brokers or even by some banks.
Banks are mostly a good place to buy bullions, should you choose to invest in gold this way. While investing, checking for any kind of risks is always a very good option. It never hurts to be a little more cautious than not. Here are some points to keep in mind whenever investing in gold, and investigate about:.
In UAE, Dubai has always been the center of gold and other trading centers. Dubai has always been the trade capital of UAE. In Dubai, gold is sold on gold price plus the making charges. This is in contrast to the rest of the world where gold is sold per unit and making charges are added as a secondary charge. Making charges in Dubai are not calculated as a percentage of gold prices again differing from the rest of the world , but is set as a flat rate.
Some out-of-the-box suggestions are to collect and stock up gold bars from one of the gold dispensers. There are other options of investing into direct gold, such as buying jewelry. Bullions can be found at various gold souks and also in certain banks. However, gold prices fluctuate, and although they may not be very volatile, their value depends on a lot of factors such as sentiment towards gold, governments buying to add their gold reserves, or when equity prices are volatile.
Dubai was just a small market back in the s, with only a handful of retailers, but now the Gold Souk in Dubai is one of the largest and most sought after places for gold trade. With over shops trading in all forms of gold, the Dubai Gold Souk is one of the most reputable gold markets in the world as of today.
Everything said, there is a wide scope of investment in gold. Every investment has its own pros and cons. Our best wishes for your investment. Hemanta Bijoy Kaushik is a personal finance writer. Discovering his love for writing, he has written a number of blogs on personal finances and other genres on various digital media platforms.
When he's not writing, you can find him exploring different cuisines and binge-watching TV series. Hemanta hopes to write a novel soon. You can check out his work on www. We encourage our users to have discussion on questions they might have on financial products and help other users by sharing their insights. Kindly help us in making this site useful.
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