Dubai is known as the ‘City of Gold’ and is one of the best places in the world to buy pure 24 karat (24k) gold. With no taxes or duties on gold in the United Arab Emirates, Dubai offers gold prices that can be 10-25% cheaper than other major gold markets. There are a variety of options for buying 24k gold in Dubai, from traditional gold souks to modern shopping malls.
Is 24k gold jewellery available in Dubai?
Yes, 24k gold jewellery is widely available across Dubai. Most jewellery shops in the gold souks and major malls will stock a range of 24k gold jewellery, from simple gold chains and bracelets through to elaborate gold necklaces and rings with precious stones and diamonds.
24k gold jewellery was traditionally the most popular type of gold jewellery sold in Dubai, as it showcases the gold in its purest form. However, over the last decade, demand has shifted towards 18k and 22k gold jewellery, which is more durable due to alloy mixing. But 24k gold jewellery is still readily available from most jewellers in Dubai.
Where can you buy 24k gold in Dubai?
There are several options for buying 24k gold in Dubai:
Gold Souks
Dubai’s traditional gold souks are the most popular place for buying gold. The main Dubai Gold Souk is located in the heart of Deira near the Dubai Creek. More than 300 gold retail stores and workshops are located in the covered souk, offering every kind of jewellery, ornament and accessory in both 24k and lower karat gold.
Prices are very competitive at the gold souks, but be prepared to haggle to get the best deals. The souks can also be quite crowded and chaotic, which is part of the experience.
Modern Shopping Malls
For a more airconditioned retail experience, head to one of Dubai’s many gold and jewellery stores in modern malls like Dubai Mall, Mall of the Emirates and Ibn Battuta Mall. Major jewellers like Damas, Joyalukkas, Malabar, Kanz, Bhima, as well as international brands like Cartier and Tiffany & Co, will stock 24k gold products.
Prices may be slightly higher than the gold souks, but the shopping environment is more relaxed.
Gold ATMs
Dubai has around 10 ‘Gold to go’ ATMs that allow you to buy and sell 24k gold bars and coins. Simply insert cash into the ATM and it will dispense the gold item of your choice. Gold ATMs can be found in shopping malls like Dubai Mall and Atlantis The Palm.
Gold Souk Online
To buy 24k gold jewellery online in Dubai, visit trusted websites like Gold Souk, Liali Jewellery and Malabar Gold & Diamonds. These sites allow you to browse and purchase 24k gold jewellery and have it delivered directly.
What is the price of 24k gold in Dubai?
24k gold prices in Dubai fluctuate daily based on the international gold price. 1 gram of 24k gold currently costs approximately AED 240. The table below shows the latest 24k gold rate in Dubai:
| 24k Gold Unit | Price |
|---|---|
| 1 gram | AED 240 |
| 8 grams | AED 1920 |
| 10 grams | AED 2400 |
| 100 grams | AED 24,000 |
| 1 kg | AED 240,000 |
The gold rate in Dubai changes frequently and is similar to the worldwide gold spot price. Check the latest rates before purchasing.
Is the gold sold in Dubai of good quality?
Yes, the 24k gold sold in Dubai is of very high quality and purity. The UAE adheres to international standards for gold quality and hallmarking:
- 24k gold sold in Dubai has a minimum gold purity of 99.9%. Many retailers sell gold that is 99.99% pure.
- Jewellery is hallmarked with fineness stamps like “999” or “9999” indicating purity. There are serious penalties for jewellers selling low quality or impure gold.
- Dubai has its own standards body, the Dubai Central Laboratory, which strictly monitors and tests gold quality. Most major jewellery chains have their gold certified by international bodies like the London Assay Office.
So you can be assured that 24k gold purchased from reputable jewellers in Dubai will be of outstanding quality and purity.
Are there any restrictions on buying gold in Dubai?
There are no restrictions for tourists buying gold in Dubai. You can freely purchase any quantity of gold jewellery, bars or coins and take them home without declaring or paying any taxes or duties. Some key points:
- No maximum limit – you can buy as much gold as you want.
- No taxes/duties for tourists exporting gold – unlike some countries Dubai does not charge sales tax or customs duty on gold.
- No declarations for less than 1kg – you only need to declare it if carrying more than 1kg gold out of the UAE.
For residents, there are some Dubai customs regulations when importing gold into the UAE. But tourists enjoy tax and duty free gold shopping without any restrictions.
Is the Dubai gold price cheaper than other countries?
Yes, in most cases the gold price in Dubai is cheaper than other major gold markets due to:
- No taxes – Dubai does not charge VAT, sales tax or customs duty on gold, reducing costs by 5-15%.
- High competition – Dubai’s gold market is very competitive, keeping trader margins low.
- Low import costs – The UAE imports large quantities of gold, keeping costs down.
Some examples of gold price differences:
| City | Gold Price per ounce |
|---|---|
| Dubai | $1,500 |
| London | $1,600 |
| New York | $1,700 |
| Singapore | $1,650 |
So buying 24k gold in Dubai can represent very good value compared to other international gold hubs.
Is it safe to buy gold in Dubai?
Yes, buying gold in Dubai is very safe due to:
- High security – Gold souks and stores have CCTV cameras and guards to deter theft and violence.
- Strict police enforcement – Dubai police takes crimes against tourists very seriously.
- Licensed retailers – All major gold retailers must be licensed by the Dubai government.
- Guaranteed quality – Dubai has strict controls to prevent impure gold flooding the market.
However, basic precautions are still recommended:
- Only buy from licensed stores in reputable shopping areas.
- Ask for the gold purity certificate to verify authenticity.
- Pay only after thoroughly inspecting the gold.
- Avoid very isolated/deserted streets and shops.
Follow these tips and buying 24k gold in Dubai is a very safe process with minimal risks.
What are the payment options for buying gold in Dubai?
You can pay for 24k gold purchases in Dubai using:
- Cash – UAE Dirhams or US Dollars. Cash is widely accepted.
- Credit/debit cards – All major cards are accepted including Visa, MasterCard, American Express.
- Cheques – Personal, travellers cheques and bank drafts.
- Bank Transfers – For larger orders many sellers accept bank transfers.
Most major retailers accept multiple payment options. Small shops may only accept cash. Inform the seller of your preferred payment method when negotiating prices and closing the sale.
What are the best gold souvenirs to buy in Dubai?
Some popular 24k gold souvenirs to buy in Dubai include:
- Gold coins – Available in denominations like 1 Dhram or 1 Ounce. Can be kept as bullion or a collectible.
- Gold bars – Small minted bars from 5g to 100g. Easy to store and transport.
- Jewellery – Gold rings, bracelets, necklaces embedded with gems and diamonds.
- Pendants – Engraved gold pendants with Arabic calligraphy and symbols.
- Ornaments – Miniature camels, Burj Khalifas, dhow boats.
When buying gold jewellery as a souvenir, opt for simpler, lightweight pieces that can be easily packed. Avoid very chunky jewellery.
Conclusion
Dubai is a gold buyer’s paradise, offering tax-free 24k gold at excellent prices. Gold can be purchased from traditional souks, modern malls or online, with numerous payment options. While basic precautions are required, the gold retail industry in Dubai is very well regulated for quality and safety. For anyone looking to buy pure 24k gold at the world’s lowest prices, look no further than Dubai.