DGCX Opens Trading of SPM Gold and Silver Bars

Dubai Gold & Commodities Exchange (DGCX) announced that SAM Precious Metals (SPM) gold and silver bars can now be traded on its exchange and clearinghouse as it continues to support members by providing them with a wide range of high-quality innovative products.

Ahmed Bin Sulayem, CEO of DGCX, said: "DGCX is continuously expanding its operations by building new partnerships and providing investors and market participants with products and services that are highly innovative and add value. SPM is a world-class refinery that has received the UAE good delivery authorization for their gold and silver bars, and we are delighted to have the products traded and cleared through DGCX. Our partnership with SPM is crucial to driving volumes in the UAE markets, cementing its position as a regional financial and commodities trading hub, especially gold and silver."

Headquartered in Dubai, the city of gold, SAM Precious Metals is one of the top gold and silver refineries in the UAE that has been a trade member of DGCX since May 2021. It received UAE good delivery authorization for their silver bars in 2021 and UAE good delivery for their gold bars in July 2022.

Sami Abu Ahmad, CEO at SPM said: "SPM is a UAE-based precious metals refinery that prioritizes meeting the highest standards using deep industry know-how. In carrying out the operations, SAM strictly ensures adherence to high ethical and moral standards and follows the process of responsible sourcing. Being able to trade at an esteemed exchange such as DGCX is a testament to our exceptional product quality and rapidly growing demand for our gold and silver bars. We hope to support DGCX in providing market participants with high quality products and drive volumes in the gold and silver markets."