DUBAI GOLD MAKING

“DUBAI GOLD MAKING” is making another dream come true apart from Burj Al Arab Hotel and its highest building Burj which has taken all worlds by storm. Now they’re on different arena, to catch the world attention, none other than biggest Gold Refinery in the desert area. It will be finalized by the year end or the early half of next year, which will tilt the balance of Gold war in the favor of Asia.

Currently the Gold manufacturing, refining and clearing are taken care by United States of America and Europe. The total investment in this sector is considered to be US$ 60 million. This refinery will be built by Kaloti Precious Metals and spot fixing of Gold will be available. Already Dubai is considered to be the top trading centre of Gold Jewellery. They are moving to next step such as gold refining physically and providing clearing too.

Apart from that they’ve two access point to market it i.e., China and India, who’re Gold lovers all the way. They will succeed in this trade due to low taxation policy, good transportation system, and having good access to customers in Asia. Nearly 40% of the world Gold trade is handled by Dubai i.e., almost business of US$ 75 Billion of Gold Jewellery. Currently annual refining capacity of Dubai is about 800 tonnes, which is far below from the maestro Switzerland which refines almost 3000 tonnes per year.

“DUBAI GOLD MAKING” is the new Gold Refinery which will be having a capacity of about 1400 tonnes of Gold and about 600 tonnes of silver. But they’re not far from challenges as Indian Government had imposed a 10% custom duty to bring current account deficit to normal. This had implicated about 15% slag in world Gold trade too. Apart from that to make introduction in this business, Dubai is planning to have spot Gold contract by June, 2014. London will be having contract for Banker or Financial Institution who can trade in 12.5 Kg Gold Bricks category, but for business people to do business related to 1 kg contract then they have to contact “DUBAI GOLD MAKING”.