Gold is an extremely popular commodity, especially in Dubai. The city’s reputation for being a gold hub has attracted people from all over the world to buy and invest in the precious metal.
When it comes to buying gold in Dubai, one of the most common questions asked is “How much is gold per gram in Dubai?” Let’s delve into this topic and explore everything you need to know.
Firstly, it’s important to understand that the price of gold per gram in Dubai varies depending on a few factors. These include the purity of the gold, current market rates, and the retailer you’re buying from. In Dubai, gold is sold by weight and not by piece, which means you’ll be paying for the actual amount of gold you’re purchasing.
The purity of gold is measured in Karats (K). One Karat equals 1/24 part of pure gold by weight.
So if a piece of jewelry is 24K, it means that it’s made entirely of pure gold. The higher the Karat value, the more expensive the gold will be.
Currently, as of November 2021, the price of 24K gold per gram in Dubai ranges between AED 220-225 (USD 60-61) depending on where you purchase it from. However, keep in mind that this price can fluctuate based on global market conditions and changes in currency exchange rates.
When purchasing gold in Dubai, there are a few things to consider before making your final decision. It’s always recommended to do your research beforehand and compare prices from different retailers. Make sure to only buy from reputable dealers who are licensed by the government.
In addition to this, it’s worth noting that there may be additional charges such as making charges and VAT (Value Added Tax) when purchasing jewelry or other items made with gold. These extra costs can add up quickly so be sure to factor them into your budget before making a purchase.
In terms of where to buy gold in Dubai, there are several options available. The most popular places to buy gold include the Gold Souk in Deira and the Dubai Mall. These locations offer a vast selection of gold items to choose from, ranging from jewelry and accessories to bullion bars.
In conclusion, the price of gold per gram in Dubai varies based on a few factors such as the purity of the gold, current market rates, and the retailer you’re buying from. It’s important to do your research and compare prices before making a purchase.
Always buy from reputable dealers who are licensed by the government and factor in any additional charges such as making charges and VAT. With these tips in mind, you’ll be able to make an informed decision when buying gold in Dubai.