Today's Live Gold Price in Dubai

What is the Gold Futures Price?

It is well aware that the Gold price keeps fluctuating and predicting the gold price in UAE after a few weeks or months or years may not give accurate results. Gold Futures is a deal the buyer can make. It is a way of investment where the investor can purchase gold as per the current price and get it delivered after months. 

For example, you've bought 10 grams of gold today (in May) as per today's price and the delivery is scheduled in the next 6 months say December. The gold price in December can be high or less than what it is today. Irrespective of the rate on that particular day you'll get the gold. It can be an advantage considering the hike in gold prices but it is again unpredictable.   

Gold rate in Dubai - Latest Analysis

Dubai is a well-known hub for Gold. The gold in Dubai won’t just attract the residents but also tourists making the Gold souks one of the must-visit tourist spots. 

In 2021, there was a good start for the Gold market making 24K gold reach AED 230 per 1 gram on Jan 5, 2021, and it was the highest so far in 2021. The lowest rate in 2021 was AED 1988 per 1 gram on March 8, 2021. Currently, the gold rate today in Dubai is AED today-gold-rate per 10 grams.  

Though there was a stumble in the month of March, the gold price in Dubai is currently maintaining a good pace by ranging above AED 2000 per 10 grams. Though the gold prices started well in May 2021, it is quite unpredictable that the rates will be high further given the rise in US Treasury yields which is inversely proportional to the gold price. 

Gold Measuring Units Worldwide

The measuring units of Gold are different in different regions of the world. All the precious metals like Gold, Silver and Gemstones are measured as per Troy System.

• Troy Ounce: 1 Troy Ounce = 31.1033 grams. This is widely used in American and British Imperial. Also, the daily gold fixing price is in Troy ounce only. 
• Grams: Gold is measured in grams as well where 1 gram = 0.001 Kilogram. This is also a widely used measurement across the globe. in India, UAE gold is mostly measured in Grams. 
• Tola: Gold was measured in Tola during British India. Currently, it is the measurement used in India, Pakistan, Nepal, Bangladesh and Singapore. 1 Tola = 11.6638 grams 
• Tael: In China, Hong Kong, and Southeast Asia the gold is measured in Tael. Where in China 1 Teal =  50 grams, in Japan 1 Teal =  37.5 grams, in Hong Kong 1 Teal =  37.799364167 grams
• Baht: Gold is measured in Baht in Thailand where 1 Baht = 15.244 grams 
• Grain: Thee traditional measurement of gold in some regions is Grain where, 1 Grain = 0.0648 grams

While the weight is measured in grams and kgs, the purity is measured in Carats where 24 carats is considered pure gold without any additional elements mix. 

Demand for Gold in India

India is one of the top countries in the world that has a high demand for gold jewellery than any metal. Every year there are hundreds of tonnes of gold is consumed in India. More than as an investment, Indians have sentimental value attached to gold metal and find it auspicious. Similar to any other country, the gold rate in India keeps changing on daily basis. 

Making Charges on Gold in Dubai

Making charges are the charges levied as the workmanship on the jewellery. The making charges on gold in Dubai is from AED 10 to AED 500 per gram. It varies with each seller. The making charges on gold is higher on 18K as it takes more effort in making contemporary jewellery. The buyer can bargain on the making charges with the seller. 

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 in Dubai?

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.

Checkout Today's 22C Gold Rate in Dubai 

What influences the gold price in Dubai?

This is well-known that the gold price is not constant, it is volatile. Gold price in Dubai 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 Purity in Dubai

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. The gold selling rate in Dubai is AED today-gold-rate
• 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. 

Why Gold is considered good investment option 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
• Investors have gold in their diversified investment portfolio because when the value of paper investments like stocks, bonds, decreases, the price of gold increases.

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 places to buy gold in Dubai

• The Gold Souk, Dubai
• The Gold and Diamond Park
• Joyalukkas
• Damas
• Damiani
• Ary Jewelers
• Atlas Jewellery