Dubai is a prominent destination for buying and selling jewellery, luring millions of visitors from across the world to flock to the emirate annually to shop, especially for the gold.
The Chairman of the Joyalukkas Group Joy Alukkas said that consumers in Dubai enjoy the lowest gold price in the world, thanks to zero import duty in United Arab Emirates (UAE) as well as Value Added Tax (VAT) refund for tourists; hence it’s always advantageous to buy from Dubai on any given day.
The Executive Director Kalyan Jewellers Ramesh Kalyanaraman told Khaleej Times that Dubai offers significant discounts and promotions like the Dubai Summer Surprise and the Dubai Shopping Festival on various products including gold and diamond jewellery.
Tips to buy gold at lower prices in Dubai?
- Bargain on making charges
- Wait for gold prices to go drop
- Choose schemes offered by retailers for buying at the lowest prices
- Check out for discounts/promotions
- Ensure zero deduction on old gold exchange
- Ensure certification, warranties, after-sale service
Gold Rate in Dubai (UAD Dirham per gm) as of July 03, 2023
Type | Rate |
| Ounce | AED 7,024.38 |
| 24k | AED 231.75 |
| 22k | AED 214.50 |
| 21k | AED 207.75 |
| 18k | AED 178.00 |
Source: Dubai Gold & Jewellery Group
