Gold Trading account in UAE

Gold & the UAE

Posted on March 21, 2018

Everyone loves a little bling, whether giving it as a gift, or wearing it ourselves, but did you know that you can trade in gold too and earn some extra cash? Yes, gold is not just beautiful and shiny, it is worth a pretty penny also! 

By checking the gold rate in Dubai regularly, and learning how to buy and trade, you can create yourself a side hustle!

Why is Gold Important in The UAE?

Dubai is synonymous with the sale of gold. If you’ve ever been to The Gold Souk in Deira, you will see it’s a hub for gold shopping. The gold investment world in Dubai, and indeed in the UAE overall, is booming. This is because the UAE is one of the better places in the world to purchase the precious material. This is because when you buy gold in Dubai, the making charges on jewelry are significantly cheaper than other parts of the world.

When it comes to buying gold online in the UAE, it’s essential you use a reputable seller/broker. To do so, you need to open a trading account to buy gold online and trade it. 

While buying gold isn’t hugely complicated, there are specific nuances to it that you need to learn about, to avoid falling foul of scams and problems, and also to ensure that you give yourself the best chance to succeed. Start slow, so hold your reins a little!

Where is your gold stored?

The best part of buying gold online is that you don’t have to worry about storing it yourself. It is the responsibility of the seller to save it, and they’ll most likely have insurance for it also.

Can you withdraw the gold you buy online?

Yes, you can, and if you’re using Mashreq Neo, you will receive your cash instantly as you don’t have to transfer funds between different providers. If you’re using other providers, then you will have to wait for your funds to be transferred between accounts. This is the benefit of Mashreq Neo as your money can flow to other opportunities like stocks, or if you like, an ATM so you can enjoy your profit.

What to consider before buying gold?

Check the gold rate today – this will give you an idea of the price you will be paying and whether you think it’s a good time to buy at all.

Gold Trading Account with Mashreq Neo

The Mashreq Neo Gold Trading Account is only ever a tap away from your current, and other accounts with us which means moving your money about is seamless, saying you never miss an opportunity. Here are some of the other benefits:

•  It only takes you a click to get setup

•  Convert your invested gold to cash anytime, anywhere

•  24-hour access to competitive prices

•  Updated twice, daily

Disclaimer: This article has been prepared solely for information purposes. It does not constitute an investment advice, solicitation, offer or personal recommendation by Mashreq, or any of their related parties to buy or sell any securities, product, service or investment or to engage in or refrain from engaging in any transaction, particularly, in any jurisdiction where such an offer or solicitation would be illegal. Neither Mashreq nor any of their related parties warrant the accuracy of the information provided herein and views expressed in this article reflect the personal view which does not take into account of individual clients’ objectives, financial situations or needs. Investors are required to undertake their own assessment and seek appropriate financial, legal, tax and regulatory advice to determine whether such investment is appropriate for them in light of their experience, objectives, financial resources and other relevant circumstances. Neither Mashreq nor any of their related parties accept any liability whatsoever for any direct, indirect, consequential or other loss arising from this article and/or further communication in relation thereto. Mashreq do not accept any obligation to correct or update the information in this article.