Dubai, often called the “City of Gold,” is renowned for its bustling gold souks and competitive gold prices. Whether you’re a resident looking to invest or a tourist seeking a shimmering souvenir, staying updated on the daily gold rates is essential.
Chart of Gold Rate In Dubai Today 4 October 2024
| Gold Purity | Price per gram (AED) |
|---|---|
| 24K (pure gold) | AED 323.25 |
| 22K | AED 299.50 |
| 18K | AED 248.50 |
These prices reflect a slight increase from yesterday, 3 October 2024.
Factors Influencing Dubai Gold Prices
Several factors contribute to the fluctuation of gold prices in Dubai:
- International Gold Prices: Dubai gold prices are directly linked to the global gold market, which is influenced by factors like economic conditions, geopolitical events, and investor demand.
- Currency Exchange Rates: The strength of the UAE Dirham (AED) against the US dollar (USD) impacts gold prices, as gold is typically traded in USD.
- Local Demand and Supply: Festivals, weddings, and tourist seasons can influence local demand, affecting prices.
- Making Charges: Retail gold prices also include making charges, which vary depending on the intricacy of the jewelry.
Where to Find Gold Rates in Dubai
- Dubai Gold and Jewellery Group: This official body provides daily gold prices on its website and app.
- Local Jewelers: Jewelers display their daily rates prominently in their shops.
- Financial News Websites: Many financial news websites and apps provide live gold price updates.
Tips for Buying Gold in Dubai
- Check the daily rates: Stay informed about current prices before making a purchase.
- Buy from reputable jewelers: Ensure the jeweler is certified by the Dubai Gold and Jewellery Group.
- Bargain: Negotiating is common practice in Dubai’s gold souks.
- Understand making charges: Inquire about making charges separately to assess the overall cost.
- Ask for a receipt: Always obtain a detailed receipt with the gold’s weight, purity, and price.
