Paloma Precious DMCC, though comparatively young, is a very significant player in global precious metals market. This was possible due to the highly experienced and trusted team behind the company who can easily claim a combined experience in the industry of more than 10 years. In a short time span Paloma Precious has developed business relationship in almost all continents and is capable of offering a variety of products and services which is difficult to find elsewhere. Paloma works hand in hand with industry leaders in logistics, refining and trading.
London-listed Rockfire Resources Plc said it pulled out of an agreement to purchase Dubai precious metals refinery Emirates Gold as it couldn’t do so without breaching UK sanctions. The United Arab Emirates-based firm, which owns Emirates Gold, was part of a network that channeled $300 million of gold revenues to Russia.
The UAE has become the main new destination for Russian gold. Paloma Precious DMCC, a trader with offices in the Dubai Free Zone and the gold market, imported $109 million, the data showed.
|November 13, 2023
|Rockfire Pulls Out of Plan to Buy Emirates Gold on UK Sanctions
|November 08, 2023
|Britain has imposed sanctions against the Russian gold mining sector