First online gold trading company to be launched today in Pakistan

Zakaria Gold Commodities (Pvt) Limited is set to engage in both online and physical buying and selling of gold

Pakistan marks a significant milestone as Zakaria Gold Commodities (Pvt) Limited, the country’s first formal company for online and physical trading of gold, commences operations on Tuesday (today), January 30, 2024.

The establishment, approved by the Securities and Exchange Commission of Pakistan and the Pakistan Mercantile Exchange, is poised to address concerns related to speculation and price manipulation in the gold trading market.

Dr. Bu Abdullah, Chairman of the Bu Abdullah Group, a prominent business group in the UAE, will officially inaugurate the online bullion trading company.

The event will be attended by senior officials from the Federal Board of Revenue and Customs, representatives of the Federal Investigation Agency, and other notable business personalities.

Zakaria Gold Commodities (Pvt) Limited is set to engage in both online and physical buying and selling of gold, pioneering this aspect of trade in Pakistan.

The company’s approval from the SECP and PMEX is expected to curtail speculation and eradicate the existence of a black market for bullion.

Company officials have outlined plans to display daily gold rates on a large screen outside the company’s office.

The establishment of this new company is anticipated to bring stability to the market, mitigating speculation and eliminating the black market for gold trading.

 

38 COMMENTS

  1. please send details about online trading with you and daily update about gold rates local and international from company platform

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