Bullion Trading

Bullion trading is different from our other three services: here Meridas is the counterparty, not the processor. We buy and sell gold bullion on our own account, trading directly with counterparties in the UAE and globally, rather than melting, assaying or refining metal a client sends us.

What we trade

We buy and sell refined gold in two forms:

• Cast bars — 995 and 999.9 fine, including our own serial-numbered bars and bars from other refiners
• Grain — 999.9 fine, sold by weight for manufacturers who alloy or cast from granules

Scrap, doré and other unrefined material are not bought outright. They go through melting, assaying and refining first; the refined output can then be sold to us, taken back as bars or grain, or held against a future purchase.

Silver is refined and cast at Sharjah but is not traded on our own account. Bullion trading is gold only.

Where we trade

We trade with counterparties here in the UAE and internationally, supported by partnerships around the world.

Every counterparty carries its own documentation, logistics and risk profile, confirmed on a trade-by-trade basis rather than assumed.

How a trade works

1. Enquiry. Tell us whether you are buying or selling, in what form, and roughly what weight. The minimum lot is 1kg.
2. Verification. Metal we are buying is assayed and verified at our Sharjah laboratory before a price is agreed. Metal we are selling carries its own assay record and, for bars, a serial number recorded against that result.
3. Price fixing. We quote against the live international spot rate at the moment the trade is agreed. Once both sides confirm, the price is fixed and the trade is booked.
4. Settlement. Settlement follows immediately after price fixing, by bank transfer in AED or in metal.
5. Handover. Physical delivery or collection is arranged through our Dubai office, which handles client logistics for both facilities.

Settlement

Trades settle immediately after the price is fixed, by one of two routes:

• Bank transfer in AED, to or from the account named in your account-opening file
• In metal — a client selling refined output can take payment as bars or grain, or net a purchase against metal we already hold for them from refining

Settlement follows standard international bullion market practice.

Getting started

Trading with us runs through the same account-opening process as our other services: trade licence, company documents, identity documents, proof of address, tax registration, financial standing, and our supply-chain and AML-CFT forms. See Open an account for the full list.

Compliance

Bullion trades are subject to the same AML-CFT and supply-chain due diligence as our refining clients, including World-Check screening of every counterparty. See Compliance for our accreditations and documentation.

Pricing

Gold doesn’t have a fixed price — it trades continuously against the international spot rate, moving throughout the day with global supply, demand and currency markets, and is benchmarked twice daily in London via the LBMA Gold Price. We quote against that live rate rather than a fixed or estimated figure, so the price a client sees reflects the market at the moment a trade is agreed, not a stale reference.

Every parcel is assayed and verified at our Sharjah laboratory before a price is agreed, so trades are priced against a confirmed fineness rather than an assumed one.