Gold Market Launches Ledger To Track Bars From Refiner to Vault
The gold market has launched a digital database to track bullion and keep precious metal from illicit sources out of the market.
The Gold Bar Integrity Database, developed by the London Bullion Market Association, will trace the precious metal in an effort to prevent supply from criminal gangs or conflict zones ending up in bank vaults. It will also seek to stop counterfeit bars stamped with the logos of major refineries from entering the market, as occurred in previous years.
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Time Business News
23-05-2025
- Time Business News
Understanding Gold Prices in the Middle East: What Buyers
Gold has always been an essential part of Middle Eastern culture, wealth preservation, and investment strategy. Whether in the form of jewelry, coins, or bullion, gold is widely purchased across the region for both personal and financial reasons. But understanding the dynamics of gold prices in the Middle East is critical for anyone looking to buy, sell, or invest wisely. In this article, we'll explore the key factors influencing gold prices in countries like the UAE and Qatar, how they compare globally, and how tools like أسعار الذهب في الإمارات and gold rate in Qatar help buyers stay informed. Gold holds cultural, religious, and economic significance in the Middle East. It is traditionally gifted at weddings, used in dowries, and held as a form of emergency wealth. Moreover, many residents view gold as a hedge against inflation and economic instability. Due to its long-standing value and liquidity, gold continues to be one of the most trusted investments in the region. However, prices are subject to daily fluctuations influenced by both local and global factors. The primary influence on gold prices in the Middle East is the global gold market. Gold is traded in U.S. dollars, and international benchmarks such as the London Bullion Market Association (LBMA) rates often serve as the baseline. Middle Eastern countries adjust their gold rates based on these international movements. When global gold prices rise, so do local prices in the UAE, Qatar, and other Gulf states. Since gold is globally priced in dollars, currency fluctuations directly impact local gold prices. For example, if the Qatari Riyal weakens against the U.S. dollar, the gold rate in qatar may increase, even if international gold prices remain stable. Similarly, the UAE dirham is pegged to the dollar, which helps maintain relative price consistency, but small shifts in international demand can still cause noticeable changes. Gold demand often spikes during festive seasons like Eid, Diwali, and wedding months. This seasonal buying can drive up prices locally, even when global prices are steady. Retailers in Dubai and Doha may slightly increase margins during these periods due to higher foot traffic, so it's important to monitor local data on أسعار الذهب في الإمارات and gold rate in Qatar before making a purchase. The introduction of value-added tax (VAT) and import duties can affect the final gold price for consumers. In the UAE, a 5% VAT is applicable, although buyers can sometimes reclaim part of it under the tourist refund scheme. Qatar currently does not levy VAT on gold, making it attractive for retail buyers. Both countries have strict quality control laws, ensuring that buyers get certified and hallmarked gold, often with fair pricing based on real-time data. Real-time pricing is essential in the fast-moving gold market. That's why informed buyers rely on trustworthy platforms. أسعار الذهب في الإمارات provides daily and hourly updates on gold prices in different karats (24K, 22K, 21K, 18K) across cities like Dubai, Abu Dhabi, and Sharjah. This platform is particularly helpful for tourists and residents planning their purchases. provides daily and hourly updates on gold prices in different karats (24K, 22K, 21K, 18K) across cities like Dubai, Abu Dhabi, and Sharjah. This platform is particularly helpful for tourists and residents planning their purchases. gold rate in qatar gives detailed information on live gold prices in Doha and other Qatari cities. It includes historical charts and analysis that help buyers understand trends and make better decisions. These tools are essential for both casual buyers and serious investors. Although gold prices across the GCC are based on global benchmarks, slight differences can occur due to taxes, supply chains, and market conditions. Criteria UAE Qatar Base Pricing Source Global (LBMA) Global (LBMA) Currency AED (pegged to USD) QAR (pegged to USD) VAT 5% (reclaimable by tourists) No VAT currently Market Type High volume, tourist-heavy Stable domestic demand Trusted Pricing Site أسعار الذهب في الإمارات gold rate in qatar While prices remain similar, tourists in the UAE may find more promotional offers due to higher competition among retailers. Meanwhile, Qatar offers stable pricing and fewer taxes, making it attractive for bulk or long-term purchases. Whether you're a tourist, an expat, or a local resident, the following tips will help you make informed decisions when purchasing gold: Use trusted sources like أسعار الذهب في الإمارات or gold rate in qatar before stepping into any store. Even minor daily price shifts can affect your total cost. 24K is the purest form, but is soft and best for investment. 22K and 21K are ideal for jewelry. Always check the hallmark stamp on the gold piece. Understand the difference between the gold price, making charges, and VAT (if applicable). Reputable sellers will provide full transparency. Prices tend to be lower during off-peak seasons. Avoid major holidays or wedding seasons when making charges and demands are higher. Some retailers offer guaranteed buyback at market rates. This is helpful if you plan to resell your gold in the future. Gold has consistently proven to be a safe haven during times of economic uncertainty. In the Middle East, it offers a dual benefit: cultural acceptance and financial security. By monitoring platforms like gold rate in qatar and أسعار الذهب في الإمارات, investors can track performance over time and enter the market at the right moment. Some investors in the region are also turning to digital gold and exchange-traded funds (ETFs), further expanding the scope of gold as a modern asset class. Gold prices in the Middle East are influenced by a combination of global market trends, local economic policies, and cultural buying patterns. Whether you're buying for adornment, savings, or investment, having real-time, accurate information is key. Reliable sources like أسعار الذهب في الإمارات and gold rate in qatar give you the tools you need to shop smart and invest with confidence. With gold continuing to hold its value across centuries and civilizations, it remains one of the most resilient and respected assets in the Middle East—and beyond. TIME BUSINESS NEWS
Business Wire
19-05-2025
- Business Wire
Sakhila Mirza to Lead Responsible Gold's Blockchain-Powered Trusted Gold Expansion
HOUSTON--(BUSINESS WIRE)-- Responsible Gold, a blockchain-powered ecosystem for traceable and ethically sourced gold, today announced the appointment of Sakhila Mirza as President. She will oversee the firm's next phase of growth, with a focus on advancing the practical implementation of responsible sourcing frameworks, supporting innovation across Responsible Gold's digital offerings. Mirza previously served as Deputy CEO and General Counsel at the London Bullion Market Association (LBMA) for over a decade, where she led initiatives around responsible sourcing, market integrity, and standards development. She played a key role in shaping global policies aimed at improving trust and transparency within the gold supply chain. 'It's an exciting time for the gold market when it comes to market innovation and what's coming down the pipeline for future growth,' said Mirza. 'Rather than just reading about it or having discussions on it, actually being involved–rolling your sleeves up and leading on it–this felt like the right opportunity.' At Responsible Gold, she will help to define operational goals, develop key performance indicators, and guide the firm's efforts to expand industry engagement. She will support the launch of new offerings, including a fund closely aligned with the firm's sourcing principles. Mirza has also been named portfolio manager at Pandion Asset Management L.P. a U.S. Securities and Exchange Registered Investment Adviser. 'Sakhila is one of the most respected voices in responsible sourcing, and her leadership will be instrumental as we continue to build a gold ecosystem rooted in transparency, traceability, and trust,' said Brent de Jong, Chairman of Responsible Gold. 'Her experience setting global standards and driving regulatory alignment across the sector makes her an ideal fit to help advance our mission and scale our solutions worldwide.' Her early priorities include addressing existing achievements across the Responsible Gold ecosystem and contributing to the company's long term vision of becoming a trusted partner for market participants seeking responsible supply chains. About Responsible Gold: Responsible Gold is a blockchain-enabled ecosystem advancing the ethical sourcing and traceability of gold from mine to vault. Its technology enables real-time custody tracking, tamper-proof digital records, and verifiable proof of provenance. The platform aligns with leading industry frameworks and supports United Nations Sustainable Development Goals.
Forbes
30-04-2025
- Forbes
Q1 Gold Demand Hit Highest Level Since 2016, Says World Gold Council
Photo byGlobal gold demand struck levels not seen for almost a decade in the first quarter as macroeconomic jitters drove safe-haven buying, according to the World Gold Council (WGC). Between January and March, yellow metal demand (including over-the-counter (OTC) dealing) rose 1% to 1,206 tonnes. This was the highest level since the first quarter of 2016. The WGC said that 'the specter of US tariffs, geopolitical uncertainty, stock market volatility and US dollar weakness' all fueled gold demand last quarter. It noted that the London Bullion Market Association (LBMA) PM gold fix averaged $2,860 per ounce – up 38% year on year – as bullion marched to repeated record highs. Gold's strengthened further in the current quarter and hit fresh peaks of $3,500.05 on 22 April. It has since retraced and was last changing hands at $3,286.59, up 25% since 1 January. The council said that 2025's price gains have been 'sparked by US tariffs and cemented by concerns over erratic and unpredictable US policy announcements, fears of stagflation and/or recession, continued geopolitical jitters and the consequent turmoil in equity markets of such an uncertain environment.' Historical gold demand Gold's first-quarter demand boom was largely thanks to robust inflows across exchange-traded funds (ETFs), the WGC noted. It said that 'a sharp revival in gold ETF inflows fueled a more-than-doubling of total investment demand to 552 tonnes.' This was up a whopping 170% year on year, and represented levels not seen since the start of 2022 when Russia invaded Ukraine. Total ETF holdings rose by 226 tonnes during quarter one to take total holdings to 3,445 tonnes, the highest level since May 2023. Boosted by the gold price boom, total assets under management (AUMs) reached an all-time summit of $345bn by the end of the quarter. The WGC said that 'the first few weeks of quarter two have seen an acceleration in demand for global gold ETFs, most notably in Asia, where flows have already surpassed their quarter one total.' It added that 'should demand continue at the current pace throughout April, we could see the strongest three-month consecutive run of inflows since the outbreak of Covid drove investors to gold in 2020.' Collective holdings in gold-backed ETFs reached an all-time peak of 3,929 tonnes in November 2020, around 10% higher than current levels. Meanwhile, gold bar and coin demand totaled 325 tonnes during the first quarter, up 3% year on year. The WGC said that 'China drove much of this increase, posting its second-highest quarter of retail investment.' Global bar and coin demand was also 15% above the five-year average. However, the WGC said that 'gold jewelry demand fell sharply in the record price environment,' with first-quarter volumes plunging to their lowest since the pandemic sapped demand in 2020. Cumulative jewelry demand dropped 19% year on year to 434 tonnes. Central banks bought 244 tonnes of the precious metal in quarter one, down 21% from the same month in 2024. Institutions paused for breath after hoovering up 333 tonnes of gold in the fourth quarter. Total purchases last year exceeded 1,000 tonnes for the third successive year. Total gold supply edged 1% higher in the first three months of 2025, to 1,206 tonnes. Mine production rose fractionally to 856 tonnes, while recycled gold levels fell modestly to 345 tonnes.
