Gold Rate Dubai, Gold Price in UAE

June 27, 2018

Gold has always been the favorite of many not just as a metal for making jewelry but as a type of investment. The Gold rate in Dubai, as well as other countries, keep fluctuating regularly and the end price is usually determined by the demand and supply forces in the market. There are different ways in which, the demand for the yellow metal is analyzed and categorized such as jewelry demand, technology demand, investment demand and central banks demand.

Gold Rate In Dubai:

Focusing on the UAE market, the retail Gold rate today in Dubai is AED 153.75 for 24K, AED 144.50 for 22K, AED 137.75 for 21K and AED 118.00 for 18K. These are the prices quoted in UAE today for one gram of gold.

The Government of Dubai has displayed several outdoor signs, thus giving details of the city’s live retail gold rate to the citizens. Such displays are mainly found at locations like Gold Souk which is popular for gold trading. Besides, the authorities are also trying to maintain transparency and help the city retain its status as the “City of Gold.”

What Are Carats?

The Carat or otherwise spelled as Karat is nothing but a unit used to measure the purity of the metal. When purchasing gold or gold ornaments, usually we get to hear the terms like 24K gold, 22K gold and so on. Hence, the price depends on the karat value also. Normally, this measurement is done in four ways, which are:

18K – includes 18 parts of pure gold along with 6 other metals.
21K – includes 21 parts of pure gold along with 3 other metals.
22K – includes 22 parts of pure gold along with 2 other metals.
24K – includes only pure gold.

gold rate in dubai today

Gold Rate In Dubai & Other Nations:

The following table states about the Gold rate in Dubai today for one gram. Along with the Gold price per gram in AED, the table also lists the currencies of different nations including US Dollars, Indian Rupees, Pounds, and Euros.

gold rate in dubai

As per the above table, currencies of different nations are mentioned. And their exchange rates are used as:

US Dollars – 1 US Dollar (USD) = AED 3.673/1 AED = 0.272 US Dollars
Eurozone Euros – 1 Euro (EUR) = AED 4.282/1 AED = 0.234 Euros
British Pounds – 1 British Pound (GBP) = AED 4.872/1 AED = 0.205 British Pounds
Indian Rupees – 1 Indian Rupee (INR) = AED 0.054/1 AED = 18.538 Indian Rupees

The above-mentioned exchange rates are listed as of today.

International & LBMA Gold Price Per Troy Ounce:

Since gold is a commonly traded commodity, it is essential to note that the price of this yellow metal is set internationally. It is in London where the benchmark gold price is normally set and based on which, the trades are settled in different markets across the world. And this price is set by the members of the London Bullion Market Association (LBMA). These members take part in the electronic auctions to set the price. On every business day, two electronic auctions will take place one in the morning and another in the afternoon. The price set by these members of the association are generally quoted in US Dollars for a troy ounce (31.1034768) of pure 24K gold.
gold Price in Dubai

As of July 2015, the electronic auctions were participated by Goldman Sachs, Bank of China, JP Morgan, Societe Generale, UBS, Standard Chartered, Barclays, HSBC, Morgan Stanley, and Scotia Mocatta.

The Gold prices in Dubai for the last seven trading days as per the LBMA are listed in the gold price chart below. In addition to the prices, you will also find their equivalent prices in AED as well. (1 USD = AED 3.673)

 

International & LBMA Gold Price Per Gram:

The Gold price in Dubai set by LBMA is generally measured as the price for a troy ounce of pure gold. In Dubai, the retail rate is established for one gram of gold. A troy ounce of gold equals to 31.1034768 grams. Hence, here we provide a listing of the LBMA gold prices per gram for the last seven trading days in the following gold price chart.
Gold rate in DubaiGenerally, there exists a difference between the Dubai retail rate and the LBMA Gold price per gram for several reasons. Some of these include:

→ A benchmark LBMA gold price is established.
→ There is a difference in timings between Dubai and London. Dubai is four hours ahead of London. At the time of the start of businesses in Dubai, the recent LBMA Gold price will already be set the before the day itself.
→ The gold rate or price in Dubai is quoted as the retail rate and this also considers a small premium that covers bullion delivery charges as well as customs duties. In addition, it also takes into account the margin to keep the sellers in a safe zone from price fluctuations.

Gold Jewelry Prices In Dubai:

In Dubai, generally the price of gold jewelry items consists of:

→ Gold Price – the gold price used in the jewelry
→ Making Charge – it is the price added by the retailer to make up for the cost of producing that jewelry piece and to make a profit.

gold rate in Dubai today

In most of the outlets in Dubai including Gold Souk, haggling is quite common. However, it is possible to negotiate the price for the making charge factor. But regardless of any store, any gold jewelry piece is not sold at an equal price or less than the live value of its gold content. When compared to other locations, the making charges for gold ornaments in Dubai are relatively cheaper. In addition, buyers are also not levied for VAT or sales tax in this city. Hence, this is one of the main reasons which makes the gold jewelry shopping pretty reasonable in Dubai than in other countries.

Along with Gold ,Dubai is famous for online shopping and Deals in Dubai which provide wide varieties of products for much better prices.

 

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Comments (20)

  • for the people who know least about the gold price and gold rates in Dubai ,how gold prices in Dubai changes in terms of carots and how gold rates in Dubai change with respect to time and stock market then this blog is a perfect source for you.know about gold rates in dubai so that it can help you i making good decisions while purchasing gold.

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  • gold rates and gold prices in uae are always changing and this blod has updated info regarding gold rate in dubai today,well written blog about each every detail which include gold carots,gold rates in dubai, how rapid the change in Gold price in dubai .

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  • Gold prices in Dubai keep changing every now and then ,though the Gold rates in Dubai are cheap compared to those of other countries.its always preferred to know more about Gold prices and gold rates in Dubai if you prefer to invest money on gold.if not for investments Dubai is a best place to purchase gold in Dubai.

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  • Dubai is really a nice place to travel ,you find uncountable shops and a best city to shop.this is also a best place to buy Gold ,you would find best arabic orgin designed ornaments.no need to question the quality as it stood in the 1st place as a gold exporter globally.but one should always be updated with the dwelling Gold prices and Gold rates in Dubai.

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  • Gold is very expensive metal yet more preferable metal in eastern part of the Globe.Dubai is the huge market for Gold trade and a best place where gold rates and gold prices are much cheaper.their tax system is the reason for cheap gold rates and gold prices in Dubai.very nice blogs clearly updated with currant Gold prices and Gold rate in Dubai.

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  • Gold is the best source for investments and always holds a good profit in stock market .but one should always keep updating himself with the increase and decrease of gold rates and gold prices in Dubai. because Gold rates in Dubai always keep changing .i have to mention this was really a good blog, clearly mentioned about how Gold prices in Dubai are changed.

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  • Gold is one of the precious metal and mostly purchased metal around the globe. Gold ornaments and jwellery is purchased more in asian countries and dubai is the one of the international market for gold .gold rates and gold prices in dubai are better when compared to other countries.gold rates in duabi are indeed much cheaper.

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  • Dubai is a great place to buy gold and gold ornaments as it is the biggest gold exporter .especially people from countries like India , Pakistan , Bangladesh show more interest to purchase gold take to their native countries. But it is recommended to keep a track on gold prices and gold rate in Dubai to avail gold for much better price.

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  • Gold ornaments and jewelry is liked my everyone especially women love it.and Dubai is the best place to buy gold .low cost,good quality,best designs whatever is the reason dubai attracts lot of visitors to purchase gold.Dubai is indeed a rich and luxurious place.their rules are bit strict but the lifestyle and places are simply amazing. Too good.

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  • Among metals gold is the mostly prefered in asian countries and middle east .most of the gold is being exported to these countries .this is a best source of revenue to uae after crude oil exports. Every year millions of expats dwell here for different reasons and shopping ,vacation,are the mojor reasons.

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  • Dubai has been a major trading port for gold and well said it is the city of gold. This is the fact that price of the gold is less compared to other country prices and that the reason why most of the gold is being exported from Dubai globally. But it is recommended to keep a track on the changing prices so that you can get the gold or gold ornaments for best price.

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  • first city name which comes to my mind regarding gold is dubai.it is the biggest market for gold and gold ornaments. And less cost of gold in dubai is a added advantage.according to the stats millions of people dwell around dubai and many of them visit dubai only to purchase gold.

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  • Gold prices in Dubai are less because there is no VAT or sales tax in Dubai.that is the reason why the prices are very low compared to other countries ,whereas it include import or customs duty charges if you want to take jwellery from dubai to your home country.well the qualityof gold is worth purchasing.

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  • I visit dubai very frequently and dubai is a best place for shopping , I purchase gold ornaments,and glad that prices of gold is much better in dubai compared to other countries.my suggestion try to buy gold from dubai ,best quality,guaranteed and resonable prices.

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  • Most of the people purchasing gold know very less about it, people should know how the price changes with respect to carots ,one can save lot of money if you keep checking the changes in prices of gold time to time.

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  • I am fond of jwellery and Dubai is the only place I prefer to purchase Gold ornaments . Not only because its cheaper in cost but also the good quality .why spend so much when you can get best quality gold for much reasonable price. But remember the price keep changing so always keep checking the rise or fall in gold prices. Nice Blog!

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  • Since i was a child i am hearing that price of gold in uae is much cheaper,toady reading this blog i got some clarity how
    prices of gold keep changing day by day,and how price is less compared to other countries, how the carrots are defined .
    intresting and useful blog.any ways thanks for the updated info.

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  • Gold rates often keep changing in Dubai,this information was really helpful to me.very clearly explained about gold prices in this blog.

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  • Yes it is true that gold price is little bit reasonable in Dubai .Gold is always a good thing to invest on.Gold rates are clearly explained in this blog. Good job.

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  • This is really nice blog,information about Gold price in UAE and comparison with international market prices was well explained.Got to know more
    about carats and even how the price will keep changing every time.

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