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The Ultimate Guide to Buying Gold in Dubai: Tips & Prices

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Gold in Dubai

People say that Dubai is the perfect location to buy gold. It costs less there than anywhere else in the world. But the price of gold changes all the time. People in Dubai read the newspapers to find out how much gold costs right now.

In this article, we’re going to discuss all about the gold rate in Dubai. Let’s get started!

Why does gold cost less in Dubai?

People often call Dubai “The City of Gold” since it’s a great spot to buy and sell gold. It’s liked by both people and tourists. It’s because the costs are less. It’s not taxed to bring in gold bars, but it is taxed by 5% when jewelry is made out of gold. At the airport, tourists can even get their tax money back. Like, in Dubai, 1 gram of 22-carat gold costs 189.8 AED.

In India, the price of gold today is Rs 48,930 per Tola. The price of gold in Dubai follows trends around the world. This helps keep prices the same all over the city.

Why is it cheaper to buy gold in Dubai?

No Duty on Raw Materials: Gold sellers from all over the world bring gold to Dubai without having to pay duty on it. But there is a 5% charge on gold brought into Dubai.

Popular jewelry brands: A lot of well-known jewelry brands, like Joyalukkas and Malabar Gold, got their start in the UAE. People can look at these shops’ real-time gold prices and compare them.

Prices that are regulated: The prices of gold are set by the Department of Consumer Protection in the Dubai Economic Department. This makes sure that prices are clear and the same everywhere. In Dubai, it costs less to make gold items as well.

Insurance costs less: Keeping gold in Dubai costs less in insurance.

Buying gold in dubai

How Much Gold Costs in Dubai Over 10 Days?

In Dubai, gold prices change all the time. The prices of different kinds of gold have changed over the last 10 days, as shown in the table below.

DATE Ounce 24 Carat 22 Carat 21 Carat 18 Carat
September 27, 2023 6,925.29 AED 228.50 AED 211.50 AED 204.75 AED 175.50
September 28, 2023 6,873.91 AED 226.75 AED 210.00 AED 203.25  AED 174.25
September 29, 2023 6,866.57 AED 226.50 AED 209.75 AED 203.00 AED 174.00
September 30, 2023 6,785.85 AED 223.75 AED 207.25 AED 200.75 AED 172.00
October 1, 2023 6,785.83 AED 223.75 AED 207.25 AED 200.75 AED 172.00
October 2, 2023 6,734.45 AED 222.25 AED 205.75 AED 199.00 AED 170.00
October 3, 2023 6,712. 43 AED 221.50 AED 205.00 AED 198.50 AED 170.00
October 4, 2023 6,683.07 AED 220.50 AED 204.25 AED 197.50 AED 169.25
October 5, 2023 6,686.74 AED 220.50 AED 204.25 AED 197.75 AED 169.50
October 6, 2023 6,694.08 AED 220.75 AED 204.50 AED 198.00 AED 169.75

How to Buy Gold in Dubai?

One of the best places to buy real gold is in Dubai. It’s tax-free to buy gold here. You can find even lower prices on the weekends and during shopping events. However, keep in mind that foreign gold markets are closed on weekends.

Seeing how much gold costs in Dubai and India:

There is a clear difference between the prices of gold in Dubai and India. In Dubai, 10 grams of 24K gold costs 2045.7 AED, but in India, it costs Rs 48,215.

Why Would You Buy Gold in Dubai?

Pure and Good Gold: The government controls the gold that is sold in Dubai, making sure that it is pure and good.

You only pay for the gold and the costs of making the deal. Other taxes, like GST, are not used.

Different Styles: The gold shops in Dubai have a lot of different styles.

Prices that are the same everywhere: Prices are set by the foreign market and are the same in all shops.

Negotiating Making Charges: The price of gold stays the same, but you can talk about the making charges.

Service and guarantee: Some jewelers offer free service and guarantee.

How do I get gold in Dubai?

Check the Hallmark and KTD standards before you buy gold. These make sure the gold is pure. To be sure of the quality, look for a Bareeq proof as well.

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