Today Gold price in Dubai (per 10 grams) is2139 AEDLast Updated: 68 Minutes ago | July 16, 2020
Last Updated: 68 Minutes ago | July 16, 2020
Today Gold price in Dubai (per 10 grams)
Gold rates for different carats in Dubai
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Check the historical Gold rate per 10 grams in Dubai which will help in understanding the gold rate trend before making the purchase.
Today: 2139 AED
High: 4367 AED
Low: 4321 AED
Last Updated: 68 Minutes ago | July 16, 2020
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Today Gold Rate in Dubai UAE
In Dubai, gold is sold as a gold price which includes making charges. Like other countries, the making charges are not calculated on a percentage basis, but a flat rate is set on the making charges. We have given gold rates today in Dubai for our valuable readers. We hope you find the updated rates really useful. The gold rate in Dubai per 10 grams stands at AED today-gold-rate
Gold Price in Dubai, UAE
Dubai is always known for its gold production. Being the city of gold, this yellow metal is available for a lesser price compared to other regions. For the past 6 months, the gold was volatile like any other year.
How is the gold price determined?
The gold is set by the “London Bullion Market Association(LBMA)”. Every day the LMBA updates the gold price twice. Once 10:30 AM and then 3 PM(UK timings). The price will be fixed after several rounds of auctions are done.
The pricing process is done in USD which is a standard currency for investors, central banks, gold producers, and consumers to perform transactions.
What influence the gold price
This is well-known that the gold price is not constant, it is volatile. Gold price keeps on changing on a daily basis. It may increase or decrease. This raises the question of, What influences the gold price?
Supply and demand - If there is a good demand for a particular commodity, the prices rise and if there is less demand the prices drop. The same applies to gold as well. When there is a good demand for gold in the market the price skyrockets. According to the World Gold Council, the central bank is buying gold and reserving it. This includes the paper currency reserve as well. So accumulating gold and paper currency will make the gold rate increase.
Value of US Dollar - Gold is sought after investment in addition to jewelry. When there is an increase in the dollar price, investors tend to invest in it rather than gold which will affect the gold price obliquely. This shows that the gold price and dollar are related. If the dollar price reduces, investors will invest in the gold funds or coins making the prices rise even more.
Gold is a versatile metal. Usually, gold is measured in karat. There are 24 parts in it. Pure gold is made of 24 carats. There are different carats available as well which is a mixture of gold and other metals like copper, silver, nickel, zinc. The metals increase their durability. Physical Gold is available as coins, jewelry, bars.
Different karats of gold available in the market are,
24K - Pure Gold i.e. the gold percentage available would be 99.9%. This is the most expensive than other variants. This is the one most preferred in Asia especially India.
22K - 22K has 91.70% of gold in it. This is not as expensive as 24K. This is the most preferred variant in India.
18K - 75% of gold is present in 18K. This is a little less expensive than 22K. This has a good demand in Europe, Asia, and South America regions.
14K - 58.30% of gold is the 14K variant. The value of this type is average and good demand in the US.
10K - This has only 41.70% of gold in it. This value is less compared to any other variant. It has a demand in the UK.
Tips while purchasing gold in Dubai
Dubai is the land of Gold. The gold markets in Dubai are one of the most visited tourist spots. Here are some tips you can follow if you are planning to purchase gold in this region,
Keep yourself updated with the market price. As said earlier, the gold price keeps fluctuating so before making the purchase just check the gold rate today in Dubai
There are different types of gold available. Have a good knowledge of the Karats before purchasing
Bargaining is not wrong. Ask for a reasonable price
Check at different shops and purchase at the one which can give you the best deal.
Gold as an Investment in Dubai
The Gold as Investment in Dubai is considered to be a safe investment in the long run. People in Dubai Invest in for the following reasons-
The gold value increases
Love for the precious metal
Can be sold hassle-free
Gold Schemes to Invest in Dubai
The investment in this metal is done in different ways like investing in a business or in the product purchase. Most of them think investment in gold involves only purchasing the physical product but there are other ways as well which can be considered.
Gold stocks: Can invest in a gold mining company i.e. can purchase stocks from the company
Gold bars and coins: Can purchase gold bars or coins from a reliable source and sell it when the market is high
Gold jewelry: Can purchase gold accessories and follow the same method as any other investment i.e sell at its peaks.
Best place to buy gold in Dubai
The Gold Souk, Dubai
The Gold and Diamond Park
Frequently Asked Questions
Q. What is the gold price today in Dubai?
A. The gold price today in Dubai is today-gold-rate AED per 10 grams for 24 Karats.
Q. How can we find whether it is real gold?
A. If you are purchasing gold in Dubai ensure you check for the hallmark by the Government of Dubai i.e. Dubai Central Laboratories Department (DCLD) and Bareeq Certification is available.
Q. What is 916 gold?
A. 916 gold is also known as 22K gold. It says 91.6% of gold is present in the ornament or product.
Q. Which is the best gold variant 22K or 24K?
A. Gold variants differ with the percentage of gold added to it. So it depends on the buyer’s requirement to prefer 22K or 24K. The amount of gold is higher in 24K than 22K.
Q. How much gold can we bring to India from Dubai?
A. A male passenger can get up to 20 grams whereas a female passenger can get up to 40 grams.
Q. Can tourists in Dubai buy gold over there?
A. Yes. Tourists can purchase gold in Dubai but have to make sure they are not crossing the purchase limit.
Q. What will be the best time to buy gold in Dubai?
A. Gold prices are volatile. The buyer needs to check the price history and make a purchase according to that.
Q. Are gold stores available in Dubai airport?
A. Yes. There are gold shops available in the Dubai airport.
Q. Is the gold rate same in Dubai airport and in the city?
A. As the gold prices are volatile, the same rate will be followed everywhere. But in the city, buyers can have plenty of options.
Q. Can I buy gold in Dubai using Indian currency?
A. At most of the gold shops in Dubai, they accept Indian currency rupees.
Q. Is gold rate cheaper in Dubai compared to India?
A. Yes. The price of gold in Dubai is cheaper when compared to the rate in India.
Q. Is pure gold available in Dubai?
A. Yes. A good form of gold is available in Dubai. Gold products are given “Bareeq Certification” by the Dubai Central Laboratories Department (DCLD).
Q. Do we need to provide any ID proofs to purchase gold in Dubai?
A. ID proofs are required to make purchases but it is recommended to have an ID proof with you while going out in Dubai.
Q. Is it worthy to purchase 18K gold?
A. The gold percentage in 18K gold is 75%. If you are purchasing as an investment option then you can prefer high gold percentage products.