Gold Rate UAE

Gold rates in UAE are influenced mainly by the London Gold Market Fixing, which is the most renowned benchmark for gold prices worldwide. Locally, prices are determined by the Dubai Gold and Jewellery Group. In the UAE, gold is available in four purity levels: 24K, 22K, 21K and 18K.

How often are UAE gold prices updated and who sets them?

Rates are issued twice daily by the Dubai Gold & Jewellery Group, based on the London Gold Fix and AED–USD exchange rates.

Why are gold prices usually cheaper in Dubai than in many other countries?

Lower import duties, VAT refunds for tourists, and high trading volumes help keep premiums lower—typically 5–7% below Western markets.

Is VAT included in the quoted Dubai gold price?

Yes, the 5% VAT is included in retail prices. Tourists can claim eligible VAT refunds at the airport.

Can tourists take gold bought in Dubai back home, and what are the customs limits?

Most travelers can take up to 10 kg duty-free out of the UAE, but destination country limits (e.g., 40g into India) still apply—always check your local rules.

What is the difference between 24K, 22K, 21K, and 18K gold?

Karat refers to purity: 24K = 99.9%, 22K ≈ 91.6%, 21K ≈ 87.5%, and 18K = 75%.

How do jewellers calculate making charges in the UAE?

Making charges are labor fees, either per gram or as a % of the gold value. 5%–12% is typical for plain gold items, and higher for diamond or intricate designs.

What factors influence gold prices in the UAE

Several key factors influence gold prices in the UAE:

1. Global market trends: Gold prices are primarily driven by international market rates, which fluctuate based on global demand and supply dynamics. Events such as economic instability or geopolitical tensions can lead to increased demand for gold as a safe-haven asset.
2. Currency strength: The value of the U.S. dollar impacts gold prices, as gold is typically priced in dollars. A stronger dollar can lead to lower gold prices and vice versa.
3. Local demand: In the UAE, cultural factors and seasonal demand, particularly during festivals and weddings, can affect local gold prices. The UAE is known for its vibrant gold market, especially in places like the Gold Souk.
4. Taxes and duties: The UAE has a relatively low tax regime for gold purchases, with only Value-Added Tax (VAT) applied, making it more attractive for buyers compared to other countries.

How can I buy gold safely in Dubai?

To buy gold safely in Dubai, consider the following tips:

1. Choose reputable dealers: Purchase gold from well-known retailers or the Dubai Gold Souk, where merchants are regulated and offer authentic products. Look for shops displaying the Dubai Jewellery Group (DJG) certification.
2. Check purity and hallmarks: Ensure the gold you buy has a hallmark indicating its purity (e.g., 24K for pure gold). You can also verify the Hallmark Unique Identification (HUID) code for authenticity.
3. Get a certificate: Always request a digital certificate that details the gold’s weight and purity. This serves as proof of authenticity and can be useful for resale.
4. Be cautious online: If buying gold online, conduct thorough research to avoid scams. Verify the seller’s reputation and check for customer reviews.