Blanch Gold : Buying and Selling Gold
Some say its complicate buying gold, but in reality it is a relatively simple process. The following guideline is the result of our experience helping thousands of investors make their initial gold purchase. If you have questions at any point along the way, we welcome your telephone call. We think you will find our low-key, no-hassle approach conducive to your making good decisions about gold ownership.
Buying Gold from Sellers
We are interested to buy raw - any purity - Dore or bullion - over 99.95% purity - gold only in bars (nuggets or gold dust is not acceptable in Dubai Customs) of any quantities (up to 100 kg - unless the quantity is less than 100 Kg that we only need to smelt and assay - as the refinery requires one day to refine, one day is also required for logistics by Brinks or G4S, and the bank requires 3 days for the payment) of gold only under CIF terms Dubai, U.A.E.
The maximum quantity we prefer to buy is up to 100 kg(and if necessary 250 kg) – which is about 12-24 tons per year which the price for 1 ton of gold depending on the price of gold and the discount – the Central Bank starts asking a lot of questions and the transfer is delayed) and with an average three Clients at the same time during the same week, we can easily trade around 150 tons per year, which is over $6 billion per year. When we receive the gold, we will always smelt, weigh (and from that point on, we will store the gold in a sealed box and the owner will never be allowed to touch the gold and in case the seal of the box has been tampered with by anyone, then we will need to redo the smelting and weighing), assay and refine it to 99.95%, and pay only bank to bank within three business banking days. No other terms for purchasing the gold are acceptable. You can find detailed information about all our legal documents that are prepared by our legal department and bank specialists over the last 40 years that we are in business and posted in this website, and the wording is standard and cannot be changed for our SPA, PoF (unblocked), and all other documents.
Legal Documentation Seller must in all cases submit all the legal documentation for the gold to the Buyer at least 3 days in advance in order for the Buyer to take all the documentation to the local authorities in the country of export and also in Dubai for pre-clearance that everything is legal, valid and the gold can be exported and or imported to Dubai. If Seller does not have all the legal documentation, he must first obtain them and then contact and send them to the Buyer, otherwise, no transaction can be done. If the Seller is not a mine that produces the gold and is a Broker, then he may be obligated to submit the License of all the miners that he bought the gold from, since the reputable refineries will never accept to refine the gold without copies of the License of each of the miners.
Selling Gold to Buyers
We offer Dore or Bullion gold (Purity 99.5% or better certified only by a Dubai Good Delivery Refinery or a recognized International Bank, like Credit Suisse) for sale to any Buyer, and at any quantity. AIMS have agreements with companies and high net worth individuals around the world to sell them our gold and if you are also interested to buy gold from us, we can sell you quantities of over 100Kg per shipment Delivery can be arranged within 2 - 3 business banking days from receipt of payment.