Bullion Dealers Kuwait

Buying Bullion In Kuwait

Although not typically known for it’s bullion industry, Kuwait like many countries in the Middle East looks to gold as a store of family wealth – and as such has grown a network of gold bullion suppliers, many trading as part of a jewellery business.

Kuwait does not have an LBMA approved gold refinery, however the country does mint official gold currency, starting production in 1981 with a number of commemorative gold bullion coins denominated in the local Dinar.

According to the World Gold Council (WGC) as of October 2017, the Kuwaiti central bank holds 79 tons of gold, equivalent to 8.9% of its total reserves. This has been a relatively static holding since 2000.

Internationally recognised bullion brands such as PAMP Suisse are available but carry high premiums, typically 10-20% over, and Kuwaitis are more likely to use 21K gold jewellery as investments.

Choice of bullion companies in Kuwait with a web presence are very limited, as most dealers trade from small units within the many Gold buying areas of Kuwait City.
 

IMPORTANT: The above tax details are listed for information purposes only and are believed correct at time of publication. Bullion.Directory are not tax experts. All enquiries about Kuwait taxes should be addressed to the appropriate local body. Taxes and taxation are subject to change.