Dubai Municipality has warned the public against dealing
with people trading in gold and jewellery inside apartments and offices,
saying that these are unlicensed practices and are not subjected to any
monitoring.
Amin Ahmed, Head of Gold and Precious Stones Committee at the Dubai Central Laboratory of Dubai Municipality, called on the public not to support these traders.
He also denied reports of the existence of any major fraud or manipulation by gold and jewellery traders in Dubai.
"We would like to reassure everyone that we have put in place precautionary measures to avoid any possibilities of fraud in the gold and jewellery sector by using the most advanced laboratory technologies in the world," said Ahmed.
Purchase of gold and jewellery usually peaks with Asian expats in Dubai in the lead up to the festival of Diwali, followed by Christmas shopping.
Amin Ahmed, Head of Gold and Precious Stones Committee at the Dubai Central Laboratory of Dubai Municipality, called on the public not to support these traders.
He also denied reports of the existence of any major fraud or manipulation by gold and jewellery traders in Dubai.
"We would like to reassure everyone that we have put in place precautionary measures to avoid any possibilities of fraud in the gold and jewellery sector by using the most advanced laboratory technologies in the world," said Ahmed.
Purchase of gold and jewellery usually peaks with Asian expats in Dubai in the lead up to the festival of Diwali, followed by Christmas shopping.
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