Dubai City Information Site

Gold Prices in Dubai

 


Do you want to learn about gold prices in Dubai and the history of the gold trade that has existed and continues to exist in Dubai?

I will tell you about the evolution of Dubai gold prices, as well in this article.

Something that you should do when you come to my country is visit the Gold Souk or our local market for the gold and jewelry trade.

Gold is a popularly traded commodity here in Dubai and it has a long history when it comes to the evolution of the industry including the growth of Dubai gold prices.

The gold trade in Dubai evolved in the 1940s because of the free trade policies which encouraged a number of entrepreneurs from Iran and India to set up stalls in the souk.

When it comes to buying Dubai gold, even amidst the slump in the global gold trade, the share of value of gold in Dubai increased from 18% to 24% in just one year and this continues to rise with every single year.

Gold Prices in DubaiThis resulted in the gold prices in Dubai remaining constant unlike the see-saw effect of the cost of gold in other countries.

You can say that the cost of Dubai Gold does not easily rise or fall and so I advise you to consider buying your gold here.

Not only will you be getting a high quality product but do so at a fair price.

Your Dubai gold expenses will be minimal in our Gold Souk and apart from gold products you can also get fine jewelry including diamonds in the souk.

The sellers are very honest and friendly and they will assist you with whatever you need.

Annually, the gold prices in Dubai amount to about $5.8 million in traded gold.

Also, India is the biggest buyer of Dubai gold. This just shows you how practical the gold prices in Dubai are as a lot of people are buying and selling gold here.
           
In determining the gold prices in Dubai, you should consider this particular conversion amount wherein 1 troy ounce is equivalent to 31.1034768 grams. This is according to the Dubai Gold and Commodities Exchange which regulates the trading of gold and other products in the country. If you want to buy gold then here is the current market price. Gold averages from a low price of AED 4,313.17 to a high cost of AED 4,368.49 per ounce.

So friend, if you are considering purchasing a gold product then you should definitely consider buying your gold from my country. Remember that the gold trade here works in a free trade zone meaning that there is a zero tax environment making the cost of Dubai gold more affordable.

I assure you that you will be pleased with the gold products we have here and there are more to see when you visit the gold souk so do visit the souk. Go with a friend or a loved one or get your wife that gold necklace or bracelet that she will absolutely adore.

 

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