Buying and selling gold is very common in the UAE, since gold retains its value and it can also be a great investment. However, you always want to know the gold price in UAE before you sell or buy it. That’s why our page receives constant, real-time updates to ensure you always know the gold price in UAE without a problem.
Gold Price in UAE Now
Purity
Rate
24K Gram
273.94 AED
22K Gram
251.12 AED
21K Gram
239.70 AED
18K Gram
205.46 AED
Ounce
8,520.63 AED
Kilogram
273,944.46 AED
What makes our page helpful is that aside from constant updates, we also ensure you have an accurate insight into gold pricing. That way you always know the current price, and you have a proper understanding of how much 14k, 18k, 24k gold costs. Since the gold price in UAE is constantly changing, you always want to have a clear update on the costs at this moment. We are here to assist, while also offering assistance and support for any questions.
UAE is one of the major gold importers in the world
One of the reasons why you want to know the UAE gold price is that the country is widely known for its gold imports. 33% of the imports are in gold reserves, which shows the massive importance of gold for the country as a whole. In 2019 alone, the gold imports in UAE alone were around $20 billion in value. The number is constantly growing, and it shows the incredible importance of gold within the country.
Moreover, according to stats, it’s said that the UAE has 74.49 tons of gold set aside as reserves. So not only is gold crucial for the country’s trading, but it’s also a way to safeguard the UAE’s future. That goes to show why you want to know the gold price in UAE, because it’s extremely important and it plays a major role in trading.
As we said, gold is widely used as an investment, but also for trading. When it comes to the UAE gold demand, it tends to focus on jewelry purchases. In fact, roughly half of the gold transactions are driven by regular customers acquiring gold jewelry. 24k gold jewelry is the most widely sought after, but other options like 21k gold, 22k gold or 18k gold are just as common.
Banks and investors choose to acquire gold all the time, and that’s why the gold price in UAE is always on the rise. Gold can help circumvent many economic uncertainties, especially when you end up dealing with any problems or challenges. Due to the constant gold requirements, UAE is one of the countries that has a huge demand for gold.
When it comes to the origin of the gold in UAE, it tends to be from all over the world. There is some domestic production, but it’s extremely low. Most of the time, the UAE has to rely on gold imports. These come from Europe and Africa, but also some Asian countries at times.
What type of gold is the most expensive for the UAE?
Generally, the higher the gold purity, the more you have to spend on it. You will notice that gold will sometimes have alloys, and the more it has, the lower the quality you will get. There’s a reason why 14k gold is cheaper, because it has more allows when compared to 24k gold for example. The 24k gold is also known as 999 gold, and it’s the purest gold form you can buy in the UAE.
However, that also means it’s the most expensive gold in the UAE as well. It has a higher purity, but that also means it will be very malleable and soft. You need to take great care of 24k gold, and it’s much easier to damage and scratch when compared to other gold types. Lower purity gold like 21k or 22k gold, maybe even 18k gold will feature alloys with other metals. These include nickel, silver, zinc, copper and many others.
Alloys are sometimes necessary in order to craft specialized jewelry pieces. That’s why you will see various gold pieces to have lower purity. It stands to their complexity and other factors which arise. In the UAE there are jewelry pieces that include gold ranging from 14k to 24k, so you have a large variety of options.
24k gold has very bright yellow coloring and it’s mostly kept as an investment in bars. You will sometimes see it in the form of jewelry pieces. However that’s rare and it comes down to how soft it can be. And since it’s easy to damage, it’s very difficult to protect it from wear and tear.
22k or 916 gold is the one used for jewelry most of the time. What 22k means is that you have 22 parts of gold and 2 parts of another metal. There are a plethora of jewelry pieces that are 22k gold, and that’s due to the higher durability that it provides. However, this gold type is not able to hold gemstone, so it’s mostly used in gold-exclusive jewelry pieces without diamonds or other stones on it.
Why investors check the gold price in UAE constantly?
The reality is that gold prices fluctuate. Sometimes you will have a very good deal, other times in the span of a day you can have very high gold prices. You want to assess the situation and know when it’s the ideal time to buy and the best time to sell your gold in UAE. Our list shows the current gold price in UAE and that will give you the right insight on when to sell and buy. You can also check the price history, so you can identify trends and see if you should wait or if it’s the best time to acquire gold!
Investing in gold is the ideal way to have a great ROI. In general, if you invest in gold you can see a 15% return, although it can vary. Still, gold prices are historically going up in the long term. That’s why businesses and regular people choose to spend their money on gold, with the hope it will continue to go up in the long term. A financial crisis can sometimes drop gold prices down, but in general gold is known to retain and even increase its value. That’s why investors are always flocking toward gold, as it’s one of the better investments that have little to no risks.
What are the most common gold measurements?
The thing you will notice when it comes to the gold price in UAE is that it will vary based on measurements. The troy ounce is the most common measurement and it has around 1.0971 ounce avoirdupois (U.S.). A kilo of gold has 32.15 troy ounces. A tola of gold is just 10 grams. It’s very important to know the gold measurements and understand them, because it will give you a proper understanding of how much you want to buy and the total costs.
It’s a great idea to know the standard bar sizes. While there are custom bar sizes, you will find 3 main gold bar sizes. You have the bar with 100 troy ounces or 3.11 kilos. Then you have the 1 kilo bar at 32.15 troy ounces. The largest bar is 12.5 kg or 400 troy ounces. Sizes will vary accordingly, but these measurements are kept in order to retain control over how you manage and track gold!
How do gold markets calculate pricing in the UAE?
Gold prices are calculated in a similar way to other locations worldwide. The gold price is displayed by 10 grams. The reason why that happens is because many gold transactions in the UAE take place in bulk, and that makes it much easier to track prices and identify costs accordingly. It’s all done according to the international standards, and the gold price is determined in Dubai first.
Then the gold prices are followed by all the other gold vendors in the UAE. If you want to buy gold or sell it, you will need to use the general gold price in UAE as a guidance. Of course, you can set your own price, but it’s always near to the Dubai-imposed gold pricing.
What should you do before you check the gold price in UAE?
Ideally, you don’t want to buy gold without a plan. Sure, you can check the gold price in UAE on this page and it’s always up to date. But you do want to prepare yourself with a solid plan beforehand. That way you know how to tackle the situation and what you may need to do. If you buy gold locally, our tool will give you a good idea of the current gold price. But you also want to check for the jeweler identification, hallmark and the gold purity. You also want to check the gold price by calculating the gold weight, stone value if there are gemstones and so on.
Assessing the current gold price for UAE is also crucial, because some jewelry sellers will just keep the same price even if it’s way higher than the current gold pricing. That way you can avoid any overcharge, and it will also help you save a significant amount of money and time. If you buy gold or gold jewelry, it makes a lot of sense to check if the store has any buy back policy or any returns/refunds. You may not need that, but it makes a lot of sense to check and ensure everything is ok. That will help immensely and provide a much better experience.
Check the gold karat too. When you buy gold, karat will always make a difference. If you want to buy gold as an investment, 24k gold is the best option. However, some people also want to wear gold as jewelry, in that case 18k or 21k gold might be the better options. It’s a good idea to know what kind of gold you want to purchase, and then you will learn more about the price. Once you have all of that info, it becomes much easier to take the right decision and buy the gold you want.
Does gold have a hallmark when you buy it?
Yes, pure gold you buy in the UAE will always have a hallmark from the government. It will show the gold purity. That means you will be able to take an informed decision when you want to buy any type of gold. It’s very important to understand the gold hallmarks and what they mean, but also what gold purity exists. That way you will know the currently available options when you want to buy gold.
Another thing to note is that anyone can buy gold in the UAE. It’s not reserved only for locals. Tourists can buy gold too, but you might have a purchase limit. It’s important to talk with the company/shop where you buy gold and check if there are any purchase limits for the time being. That way you can avoid any potential issues that can arise.
Should you check gold trends?
The thing to note about gold prices is they always tend to fluctuate. That also means you will end up with costs going down or up every day. It means there’s no ideal time to buy or sell. Instead, the main focus is on checking the current gold history and seeing if there are any trends. Buying at the lowest possible price is ideal and it will help you make the right investment.
You should always check the gold price in UAE on this page if you want to stay up to date with the latest information. We believe that knowing the UAE gold price can be a great piece of information that can help save a lot of money if you are looking to purchase gold. Whether you want to buy it as an investment or to wear it in the form of jewelry, gold is always a great purchase. Not only does it hold its value, but it also increases in the long term. That’s why we think it’s imperative to know the gold price in UAE, so don’t hesitate to come back to our website for the latest gold prices within UAE!
where to buy gold in dubai?
Mint Jewels | Sell Gold in Dubai | Buy Gold Bars in Dubai Service options: In-store shopping · Kerbside pickup · Delivery Located in: Karama Centre Address: karama Center – 22 Kuwait St – Al Karama – Dubai – United Arab Emirates Areas served: Dubai and nearby areas Hours: Wednesday 10 am–10:30 pm Thursday 10 am–10:30 pm Friday 10 am–12 pm, 3–10:30 pm Saturday 10 am–10:30 pm Sunday 10 am–10:30 pm Monday 10 am–10:30 pm Tuesday 10 am–10:30 pm Website: mintjewels.ae Phone: +971 4 396 7916
