Lead Physical Gold Trader & Desk Builder

PALICAO; Dubai; On-site; AED 900,000 - 1,700,000; Full time

Job summary

PALICAO is seeking a senior Physical Gold Trader based in Dubai to lead the desk, originate doré and semi-refined gold, and manage the book with discipline across hedging and risk controls.

You will originate volume, price and hedge it, oversee assay and settlement, and build a team as volumes scale. Fluency in English is required; experience in DMCC, Deira gold souk, or refinery setting is essential.

Qualifications

• 10+ years of core experience in physical precious metals, with recent hands-on gold trading in Dubai (DMCC, Deira gold souk or refinery).
• Proven track record originating doré and semi-refined material from Africa with a transferable network.
• Proven ownership of a hedged physical book with clear instruments, hedge ratios, limits and post-drawdown changes.
• Experience with loco Dubai settlement, unfixed pricing mechanics, EFPs and refinery terms.
• Experience following LBMA Responsible Gold Guidance, OECD DDG and DMCC due diligence rules.
• Degree in finance, economics, engineering, metallurgy or related field; or equivalent trading-floor track record.
• Fluent English; French/Arabic/Mandarin advantageous.

Responsibilities

• Originate and execute purchases of doré and semi-refined gold from African producers, aggregators and exporters; negotiate terms.
• Price spot and forward business in XAU/USD, managing loco Dubai and loco London differentials.
• Build and maintain the sell-side relationships with UAE and Asian refineries and bullion banks.
• Own the desk's P&L, budget and volume targets; produce daily and monthly commentary on margins.
• Hedge all priced and pending exposure using appropriate instruments and maintain hedge discipline.
• Quantify and manage unpriced-metal risk across the pipeline (in transit, in refinery).
• Lead desk build-out: headcount, systems, reporting, and risk framework.

Skills

Gold trading

Risk management

Origination

Hedging

Loco Dubai

LBMA/OECD/DMCC rules

Network/building

Education

Finance/Economics/Engineering/Metallurgy degree

Job description

PALICAO is seeking a senior Physical Gold Trader based in Dubai to lead the desk, originate doré and semi-refined gold, and manage the book with discipline across hedging and risk controls.

You will originate volume, price and hedge it, oversee assay and settlement, and build a team as volumes scale. Fluency in English is required; experience in DMCC, Deira gold souk, or refinery setting is essential.