The Phaserl


Gold bars in Dubai disappear, some at 750% premiums

Indians living in Dubai and hailing from South India, appear to be clearing up most of the gold bars and coins in jewellery outlets across Dubai.

by Shivom Seth,

The desire to own gold, as an investment and for jewellery purposes, has made itself felt in the physical market in India and in Dubai, where premiums are ruling at an all time high.

To cash in on the investor frenzy, gold dealers in Dubai have raised their premiums to 750%, given the prevailing uncertainties over the global economy.

Renowned for its role as the best place in the world to buy gold, Dubai has had an impromptu gold festival under way. The Dubai market is dominated by Indians.

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1 comment to Gold bars in Dubai disappear, some at 750% premiums

  • Warp

    750% premium != 750% above normal premium.

    The article’s description does not match with the body of the article.

    It is very misleading.

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