Buying Bullion in UAE

Old Jan 31st 2009, 8:57 am
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Default Buying Bullion in UAE

Hello there
Where can one go to purchase cast or minted bullion bars here?
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Old Jan 31st 2009, 9:00 am
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Default Re: Buying Bullion in UAE

Originally Posted by AnotherWorld View Post
Hello there
Where can one go to purchase cast or minted bullion bars here?

Dragonmart................
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Old Jan 31st 2009, 9:00 am
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Default Re: Buying Bullion in UAE

Originally Posted by AnotherWorld View Post
Hello there
Where can one go to purchase cast or minted bullion bars here?
Why would you want to?

(Just curious)
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Old Jan 31st 2009, 9:06 am
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Default Re: Buying Bullion in UAE

Originally Posted by The Dean View Post
Why would you want to?

(Just curious)
As safe alternative to the crashing US economy, the potential of China dumping US bonds over bullion, the massive buy ins by major European investment funds, the continuing uncertainty of our international economy (no theres no answers only predicitions), the fact that it always has been and (foreseeably) always will be a stable way to hedge yourself against destructive economic situations including currency crises.

Why wouldn't you own any?
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Old Jan 31st 2009, 9:27 am
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Default Re: Buying Bullion in UAE

Originally Posted by AnotherWorld View Post
As safe alternative to the crashing US economy, the potential of China dumping US bonds over bullion, the massive buy ins by major European investment funds, the continuing uncertainty of our international economy (no theres no answers only predicitions), the fact that it always has been and (foreseeably) always will be a stable way to hedge yourself against destructive economic situations including currency crises.

Why wouldn't you own any?
you might want to have a look at the perth gold mint certificate scheme (www.pmcg.com.au). it's a government backed way of buying gold without the need to physically possess it (and without getting mixed up in futures, etc.)

it's also one of those strategies pushed by people such as Peter Schiff (www.europac.net) et al as a way of trying to isolate/protect your investments from the US economy. (not sure if i agree w/ his outlook and/or approach, but his opinions are seen as the 'poster boy' for the 'anything-but-equities' crowd)
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Old Jan 31st 2009, 9:32 am
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Default Re: Buying Bullion in UAE

Originally Posted by AnotherWorld View Post
Hello there
Where can one go to purchase cast or minted bullion bars here?
if I say the Gold Souk would that be too obvious
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Old Jan 31st 2009, 9:38 am
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Talking Re: Buying Bullion in UAE

It's at a very high price though isn't it? (Historically speaking). Maybe you could get hold of Saddam Hussein's old bathroom fittings as an elegant alternative to useless bars of shiny metal.

If you want to hedge yourself against specific risks perhaps you could ask Meow about your options . I'm sure she'd be more than willing to discuss it over dinner and a bottle of wine at the Burj .
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Old Jan 31st 2009, 9:42 am
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Default Re: Buying Bullion in UAE

Originally Posted by Charismatic View Post
It's at a very high price though isn't it? (Historically speaking). Maybe you could get hold of Saddam Hussein's old bathroom fittings as an elegant alternative to useless bars of shiny metal.
Guess I shoulda asked my SASR friend who got a first class room in one a few years ago
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Old Jan 31st 2009, 9:43 am
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Default Re: Buying Bullion in UAE

Originally Posted by still.unsure View Post
you might want to have a look at the perth gold mint certificate scheme (www.pmcg.com.au). it's a government backed way of buying gold without the need to physically possess it (and without getting mixed up in futures, etc.)

it's also one of those strategies pushed by people such as Peter Schiff (www.europac.net) et al as a way of trying to isolate/protect your investments from the US economy. (not sure if i agree w/ his outlook and/or approach, but his opinions are seen as the 'poster boy' for the 'anything-but-equities' crowd)
Yeah thanks. I will visit the mint when I go back in April. Heard they had halted orders for a while due to overwhelming demand.

edit: that may have been bullion orders only
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Old Jan 31st 2009, 9:47 am
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Default Re: Buying Bullion in UAE

Originally Posted by AnotherWorld View Post
As safe alternative to the crashing US economy, the potential of China dumping US bonds over bullion, the massive buy ins by major European investment funds, the continuing uncertainty of our international economy (no theres no answers only predicitions), the fact that it always has been and (foreseeably) always will be a stable way to hedge yourself against destructive economic situations including currency crises.

Why wouldn't you own any?
Fascinating.......... all valid points, although the China thing is pie-in-the-sky, with no possible way of knowing if that will happen or not - they have their own crisis too, i.e. slumping exports.

But remember - the gold price is an exchange rate (dollars per ounce) just like any other (dollars per pound, etc) and is therefore directly affected by the USD's market value. So far (unlike oil), gold has mostly withstood the dollar's rise since last July but if the dollar continues to rise (on safe haven buying in global uncertainty), even gold will fall.

And in the current economic climate everywhere, is there really any demand for the physical metal itself?
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Old Jan 31st 2009, 9:47 am
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Default Re: Buying Bullion in UAE

Originally Posted by AnotherWorld View Post
Yeah thanks. I will visit the mint when I go back in April. Heard they had halted orders for a while due to overwhelming demand.

edit: that may have been bullion orders only
yes, think that was due to price (it got down to USD$720 an ounce around april) and they were holding onto it to keep the certificates value (nb: speculation and conspiracy theories!)
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Old Jan 31st 2009, 9:52 am
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Default Re: Buying Bullion in UAE

Originally Posted by The Dean View Post
Fascinating.......... all valid points, although the China thing is pie-in-the-sky, with no possible way of knowing if that will happen or not - they have their own crisis too, i.e. slumping exports.

But remember - the gold price is an exchange rate (dollars per ounce) just like any other (dollars per pound, etc) and is therefore directly affected by the USD's market value. So far (unlike oil), gold has mostly withstood the dollar's rise since last July but if the dollar continues to rise (on safe haven buying in global uncertainty), even gold will fall.

And in the current economic climate everywhere, is there really any demand for the physical metal itself?
this goes someway towards the idea that the major economies can not afford for the USD to fail (commodity pricing, index base rates, etc.)

(there used to be a conspiracy theory that was if OPEC indexed against the EUR instead, the world would go up it's own poop-shoot... that was one for a few bottles and a late night...)

so here's a question, (and perhaps for another thread...) where do you put your hard earned right now? even if you just want to match inflation?
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Old Jan 31st 2009, 9:53 am
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Default Re: Buying Bullion in UAE

Originally Posted by The Dean View Post
Fascinating.......... all valid points, although the China thing is pie-in-the-sky, with no possible way of knowing if that will happen or not - they have their own crisis too, i.e. slumping exports.

But remember - the gold price is an exchange rate (dollars per ounce) just like any other (dollars per pound, etc) and is therefore directly affected by the USD's market value. So far (unlike oil), gold has mostly withstood the dollar's rise since last July but if the dollar continues to rise (on safe haven buying in global uncertainty), even gold will fall.

And in the current economic climate everywhere, is there really any demand for the physical metal itself?
Anything can happen. Well its not like I'm dumping all my money into physical shiny gold, stocking up on food and ammunition and burying myself in my under-construction fallout shelter under Uluru.
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Old Jan 31st 2009, 9:55 am
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Default Re: Buying Bullion in UAE

Originally Posted by AnotherWorld View Post
Anything can happen. Well its not like I'm dumping all my money into physical shiny gold, stocking up on food and ammunition and burying myself in my under-construction fallout shelter under Uluru.
ah, brings back memories of y2k... the touring around the arizona badlands laughing at the bunkered hill billies... *sigh* good times...
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