About
A Dubai trading company that sits at both ends of the same chain: the intake of unrefined material and the trade in finished metal.
What the company is
Velcura Gold Trading L.L.C is a limited liability company registered in Dubai, United Arab Emirates, and licensed to trade in raw gold and precious metals. It works exclusively with commercial counterparties: producers, trading companies and institutional buyers. There is no private client business and no consumer offer.
The company sits in the middle of the chain and takes a position on both sides of it. On one side it takes in unrefined gold, imports it into Dubai and presents it to a refinery. On the other it buys and sells bullion on its own account. Both run under the same licence and the same set of checks.
Where it sits
Dubai is where the refining and the settlement happen. Velcura is registered here, works from here, and its people are in the same time zone as the refinery, the customs entry and the bank. That is the practical reason for the location, and it is the whole of it.
The company is young, and this is what follows from it
Velcura is at the start. There is no long trading record to point at, and a page that implied one would be worth less than this paragraph.
What a young company can offer is what a large one usually cannot. Processes are short because there are few of them and they were written recently, with the current rules in front of us rather than around a practice that grew over years. Decisions do not travel through committees. A counterparty deals with one person who follows the position from intake to settlement and who can be reached about it.
Onboarding at a refinery in Dubai is complete. The route from arrival to settlement is therefore established before the first position runs, rather than being arranged around it.
Who is not on this page
Management and shareholders are not published here. They belong in the KYC pack, where they are checked, and not on a public site, where they cannot be. Any counterparty entering a review receives them in full.
What separates this from the next trading company
Both ends of the chain under one licence
Taking in unrefined material and trading finished metal are usually two different businesses with two different counterparties. Here they are one, which means a position can be followed from raw material to fine metal without handing it to somebody whose records are not visible.
The route exists before the first position
Velcura is onboarded as a customer at a refinery in Dubai. The path from arrival through assay to settlement is agreed and documented in advance. Nothing about it is improvised while material is in transit.
A yardstick for suppliers that comes first
The requirements a counterparty has to meet are written down and applied before a position opens, not assembled afterwards to satisfy a review. They are published in full on the sourcing standards page, including the constellations that are declined.
One point of contact
The same person carries a position from intake to settlement. There is no handover between a sales desk and an operations desk, and therefore no place for a document to be lost between them.