11:33 PM
It indicates that the sale of gold used has the conditions set by the Ministry of Commerce and Industry, namely the presentation of the civil card to record the seller's data, in order to avoid falling under the law of the buyer if the gold is stolen.
He asserts that there are no cheating cases for the sale of gold used because it depends on the customer's awareness, bearing in mind that the law does not oblige the trader to buy gold at the global price.
On the other hand, the owner of gold and diamond shops, Sultan Al-Issa, said that the gold trade used is a profitable process for the customer at high prices, and the best price for profit through the sale of gold in the form of alloys, indicating that the gold is sent Sukuk to neighboring countries to return Manufactured in new forms.
Al-Essa said during his interview with Al-Arab Al-Jadeed that the customer can check the prices of gold electronically through websites and sell or buy gold at the same moment to make sure it is not exploited or manipulated by the trader. Price panel.
Al-Issa explains that customers sell gold in all its forms, whether in the form of alloys or gold. If the piece is clean and not much used, it can be removed from the impurities and resold. After that, it is melted and remanufactured. And there is agreement with the client in advance to settle the value of workmanship, but there are some types that can not afford, such as Lazurde gold and heritage pieces.
He asserts that there are no cheating cases for the sale of gold used because it depends on the customer's awareness, bearing in mind that the law does not oblige the trader to buy gold at the global price.
On the other hand, the owner of gold and diamond shops, Sultan Al-Issa, said that the gold trade used is a profitable process for the customer at high prices, and the best price for profit through the sale of gold in the form of alloys, indicating that the gold is sent Sukuk to neighboring countries to return Manufactured in new forms.
Al-Essa said during his interview with Al-Arab Al-Jadeed that the customer can check the prices of gold electronically through websites and sell or buy gold at the same moment to make sure it is not exploited or manipulated by the trader. Price panel.
Al-Issa explains that customers sell gold in all its forms, whether in the form of alloys or gold. If the piece is clean and not much used, it can be removed from the impurities and resold. After that, it is melted and remanufactured. And there is agreement with the client in advance to settle the value of workmanship, but there are some types that can not afford, such as Lazurde gold and heritage pieces.
For his part, the chief executive officer of Al-Sabeeb Al-Kuwait Precious Metals Trading Company, Ragab Hamed, said that Kuwait is a gold merchant specialized in the used gold trade. It is a popular trade and there is an interest in buying gold broken by shops in Kuwait due to its high profits.
"The vast majority of gold shops buy old used gold at less than their price and sell it to manufacturing workshops to get gold in excess of $ 700," he said.
He points out that the gold used is used by the owners of gold workshops to reshape it. He explains that the gold used is burned and reconstituted or manufactured from local alloys for sale to gold workshops. Each caliber is assembled and placed in an alloy separately, indicating that the 21-gauge gold is made of alloy where the shop owner buys it without the cost of the workmanship.
According to the Kuwait Gold Federation, the total number of commercial licenses for gold institutions in Kuwait amounts to about 3,000 licenses, and total investments of licensed gold shops amounts to about 1.3 billion dollars.
"The vast majority of gold shops buy old used gold at less than their price and sell it to manufacturing workshops to get gold in excess of $ 700," he said.
He points out that the gold used is used by the owners of gold workshops to reshape it. He explains that the gold used is burned and reconstituted or manufactured from local alloys for sale to gold workshops. Each caliber is assembled and placed in an alloy separately, indicating that the 21-gauge gold is made of alloy where the shop owner buys it without the cost of the workmanship.
According to the Kuwait Gold Federation, the total number of commercial licenses for gold institutions in Kuwait amounts to about 3,000 licenses, and total investments of licensed gold shops amounts to about 1.3 billion dollars.
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