Frequently Asked Questions
Expert answers covering live gold rates, karat purities, VAT regulations, making charges, and investment insights across the UAE.
Q1.How often are gold rates updated in the UAE?
Gold rates are updated in real-time throughout global market trading hours (Monday to Friday). Our system syncs directly with live international spot prices and AED exchange rates, ensuring you get accurate up-to-the-minute market data.
Q2.What is the difference between 24K, 22K, 21K, and 18K gold?
24K is pure gold (99.9% purity), making it soft and ideal for bullion bars and coins. 22K contains 91.6% gold, popular for traditional high-carat jewelry. 21K (87.5% purity) and 18K (75.0% purity) contain higher alloy metals for enhanced durability, making them perfect for intricate diamond or gemstone jewelry settings.
Q3.Are making charges included in the live spot gold rates?
No. The live spot prices displayed on our website reflect the intrinsic melt-value of raw gold per gram in UAE Dirhams (AED). Making charges (Majrool), design complexity fees, and brand premiums are charged separately by retail jewelers in the Dubai Gold Souk.
Q4.Is there any VAT or tax on buying gold in the UAE?
Investment-grade gold (purity of 99% or higher in the form of bars, coins, or investment precious metals) is subject to 0% or zero-rated VAT under UAE tax laws. However, retail jewelry purchases are subject to the standard 5% VAT applied on the making charges portion.
Q5.Why do gold prices vary slightly between different shops in Dubai Gold Souk?
While the baseline metal rate is anchored to the global exchange, individual jewelry shops set different making charges depending on the brand reputation, craftsmanship origin (e.g., Italian, local, or Indian design), and whether the item is machine-made or hand-crafted.
Q6.Can international tourists claim VAT refunds on gold purchases in the UAE?
Under the UAE Tax Free shopping system, tourists can claim VAT refunds on eligible retail purchases (including jewelry making charges) upon departure through approved digital schemes like Planet Tax Free at UAE airports, provided they meet minimum spend and validation criteria.
Q7.Is it better to buy gold bars (bullion) or jewelry for investment?
For pure investment purposes, 24K gold bars and certified coins are always recommended because they carry minimal fabrication/making premiums and can be liquidated easily at international spot value with negligible buy-back loss.
Q8.How is the gold price per gram calculated from ounce prices?
Global gold is traded in troy ounces (1 troy ounce = 31.1035 grams). To find the 24K gram price in AED, we take the live international ounce rate in AED and divide it precisely by 31.1035.
Q9.What factors drive gold price movements in the UAE market?
Key drivers include US Federal Reserve interest rate decisions, US Dollar index strength, geopolitical tensions, global inflation rates, central bank gold reserves purchasing, and localized festive/wedding season demand spikes across Dubai.
Q10.Can I sell gold back to any jeweler in Dubai even if I didn't buy it there?
Yes, the Dubai gold market is highly liquid. Most certified bullion dealers and jewelers will buy back gold items. However, carrying your original purchase invoice and ensuring the hallmark stamp is intact makes the buy-back process faster and smoother.
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