GOLD DEALERS IN DUBAI | 5 OCTOBER 2024

Gold dealers in Dubai know that over the past few years, there has been a significant increase in interest in gold investing, and this year has been especially noteworthy for the precious metal. The price of gold has been rising since early 2024, and this increase has been nothing short of spectacular. Gold has already broken several price records this year. Early in March, gold prices experienced their first notable increase, rising 8% to $2,160 per troy ounce, from the previous record of $2,135 in December 2023. Gold’s price broke yet another record by April, and it did so again in May and August. The price of gold then kept rising, reaching another record high of $2,584.09 per ounce this week (September 16).

HOW TO BUY GOLD IN DUBAI

The thought of purchasing and selling gold in Dubai is alluring for several reasons. It’s the fusion of value, quality, and heritage. Pure gold is frequently available on the Emirati gold market at prices that are very similar to those of other countries. Because Dubai Gold vendors adhere to strict quality inspections, buyers may also buy gold with confidence.

Here are a few more reasons:

Tax: Gold has one of the lowest VAT rates in the world, at 5%. Tourists can, however, get this back at the airport’s VAT refund station.

Bargaining: When buying pure gold or gold jewellery, it’s common and expected for people to haggle.
Secure transactions: Dubai is renowned for its secure business environment.

Making educated purchases requires an awareness of the sometimes extremely complex gold markets. The price of gold varies in the United Arab Emirates based on global patterns. Therefore, it’s critical to use a trustworthy trading platform to stay up to date on the gold rate. But don’t worry—the UAE’s strict market regulations guarantee that vendors are open and honest about the price of gold.

The following variables affect the price of gold:

VAT inflation
Seasons of celebration and marriage
The value of foreign currencies
Geopolitical unrest
Mining and production operations

GOLD DEALERS IN DUBAI | 5 OCTOBER 2024