UAE VAT Law Changes for Precious Metals Sector: Impact on Prices and Investor Confidence

• UAE Ministry of Finance announced new VAT law for precious metals sector
• Businesses supplying goods no longer need to charge or collect VAT
• Responsibility of calculating and declaring VAT shifts to buyers
• New law streamlines operations, boosts investor confidence
• Gold forecasted to see higher prices, trading at $3,000 per troy ounce
• UAE positioned favorably as second-largest gold hub worldwide
• CEO advises diversifying portfolio with gold and silver investments
• Silver could be a notable asset to invest in upcoming months

Source: zawya.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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