Buying Gold in the UAE
The UAE, especially Dubai, is world-renowned for gold shopping. This guide helps you navigate the market whether buying jewelry or investing.
Why Buy Gold in UAE
- No VAT on investment gold
- Competitive prices globally
- Wide variety of designs
- Quality assurance regulations
- Tax-free shopping
Types of Gold Available
Jewelry
- 22K (916): Traditional Indian/Arabic designs
- 21K (875): Middle Eastern preference
- 18K (750): Western designs, more durable
Investment Gold
- Gold bars (various weights)
- Gold coins
- Digital gold
Where to Buy
Gold Souks
- Dubai Gold Souk: Largest, best variety
- Abu Dhabi Gold Souk: Less crowded
- Sharjah Gold Souk: Good prices
Retail Chains
- Malabar Gold
- Joyalukkas
- Damas
- Pure Gold
Understanding Pricing
- Gold rate: International price per gram
- Making charges: 10-35% of gold value
- Wastage: 3-10% additional
- Total price: Gold value + making + wastage
Bargaining Tips
- Know current gold rates before shopping
- Focus on reducing making charges
- Compare multiple shops
- Visit on weekdays for better deals
- Buy during promotions (DSF, Ramadan)
Quality Assurance
- Look for hallmarks/stamps
- Request certificates of authenticity
- Weigh gold at multiple shops
- Keep all receipts
Conclusion
The UAE offers excellent value for gold purchases. Research prices, negotiate wisely, and always verify quality for the best deals.
