Gold Rate in Dubai Today
Retail gold rates in Dubai today are listed in the table below.
Prices are quoted in AED (United Arab Emirates Dirham) for one gram of gold. Rates were last updated on Saturday 1st of June 2024 at 10:01 am GMT.
| Type | Gold Rate (AED) |
|---|---|
| 24K | 281.75 |
| 22K | 261.00 |
| 21K | 252.50 |
| 18K | 216.50 |
The Government of Dubai (Department of Economic Development) has outdoor signs that display Dubai’s live retail gold rate. They are located in prominent gold trading locations such as the Gold Souk. The authorities are keen to promote transparency and ensure the city retains its status as the City of Gold.
Valuation Calculator
Use the calculator below to calculate the retail value of any weight of gold. Enter the weight in grams.
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Carats/Karats Explained
The carat or karat (symbol/abbreviation K) is the unit used to measure the purity of gold.
Pure gold (24K) is malleable (can be deformed) and ductile (can be stretched). It is not suitable for jewellery.
Gold is typically mixed with other metals to form an alloy.
- 24K – Pure gold.
- 22K – Alloy with 22 parts pure gold and two parts of other metals. The percentage of gold is 91.7 (22/24).
- 21K – Alloy with 21 parts of pure gold and three parts of other metals. The percentage of gold is 87.5 (21/24).
- 18K – Alloy with 18 parts of pure gold and six parts of other metals. Percentage gold is 75 (18/24).
- 14K – Alloy with 14 parts pure gold and ten other metals. Percentage gold is 58.3 (14/24).
- 9K – Alloy with nine parts of pure gold and 15 parts of other metals. Percentage gold is 37.5 (9/24).
In Dubai, Indian and other Asian buyers are typically interested in buying 22K jewellery. European visitors and younger buyers tend to prefer purchasing 18K gold jewellery.
Many European countries use the ‘millesimal fineness’ system to measure purity. This system represents the number of parts of gold in 1000 parts of alloy. So, for example, 18K gold is an alloy containing 75% gold. It’s millesimal fineness is 750. These millesimal fineness numbers are used as hallmark stamps.
Gold purities are summarised in the table below:
| Karat (K) | Parts of Gold | Gold % | Millesimal Fineness / Hallmark |
|---|---|---|---|
| 24 | 24/24 | 99.9 | 999 |
| 22 | 22/24 | 91.7 | 916/917 |
| 21 | 21/24 | 87.5 | 875 |
| 18 | 18/24 | 75.0 | 750 |
| 14 | 14/24 | 58.3 | 583/585 |
| 12 | 12/24 | 50.0 | 500 |
| 10 | 10/24 | 41.7 | 416/417 |
| 9 | 9/24 | 37.5 | 375 |
Inspectors from the Dubai Central Laboratory (part of DubaiMunicipality) perform checks on gold and jewellery retailers.
Gold, other precious metals, and gems are meticulously tested for purity and authenticity.
Weighing scales used by jewellers in the city are tested to ensure they are correctly calibrated.
Both regular and unscheduled checks are performed. All retailers know the strict regulations in place, so non-compliance is extremely rare. Any violations are acted upon.
Certificates are issued to compliant retailers.
Gold Rate in Dubai – Dollars, Euros, Pounds, Indian Rupees, and Saudi Riyals
The table below shows the gold price today in Dubai for a gram of gold in UAE dirhams and several popular currencies (US dollars, euros, pounds, Indian rupees, and Saudi riyals).
| Gold Type | AED | USD | EUR | GBP | INR | SAR |
|---|---|---|---|---|---|---|
| 24K | 281.75 | 76.71 | 70.65 | 60.22 | 6,402.15 | 287.72 |
| 22K | 261.00 | 71.06 | 65.45 | 55.79 | 5,930.65 | 266.53 |
| 21K | 252.50 | 68.74 | 63.32 | 53.97 | 5,737.51 | 257.85 |
| 18K | 216.50 | 58.94 | 54.29 | 46.28 | 4,919.49 | 221.09 |
The exchange rates used were as follows:
- US dollars - 1 US dollar (USD) = 3.673 AED / 1 AED = 0.272 US dollars
- Eurozone euros - 1 euro (EUR) = 3.988 AED / 1 AED = 0.251 euros
- British pounds - 1 British pound (GBP) = 4.678 AED / 1 AED = 0.214 British pounds
- Indian rupees - 1 Indian rupee (INR) = 0.044 AED / 1 AED = 22.723 Indian rupees
- Saudi riyals - 1 Saudi riyal (SAR) = 0.979 AED / 1 AED = 1.021 Saudi riyals
Exchange rates were last updated on Saturday 1st of June 2024 at 2:22 am GMT.
Historic Retail Gold Rate in Dubai - 1 Gram (AED)
Retail gold rates over the previous 30 days in Dubai are shown in the table below.
On Saturday 1st, June 2024 the retail cost of 1 gram of 24k gold was 281.75 AED. 30 days earlier on Thursday 2nd, May 2024 1 gram of gold was trading at 278.75 AED.
This represents an increase of 3 AED per gram, or 1.08 %.
The price of 10g of 24k gold in Dubai on Saturday 1st, June 2024 was 2817.5 AED. 30 days earlier 10 grams of 24k gold would have cost 2787.5 AED.
| Date | 24K | 22K | 21K | 18K |
|---|---|---|---|---|
| Saturday 1st, June 2024 | 281.75 | 261.00 | 252.50 | 216.50 |
| Friday 31st, May 2024 | 283.75 | 262.75 | 254.25 | 218.00 |
| Thursday 30th, May 2024 | 282.75 | 261.75 | 253.50 | 217.25 |
| Wednesday 29th, May 2024 | 285.50 | 264.50 | 256.00 | 219.50 |
| Tuesday 28th, May 2024 | 284.75 | 263.50 | 255.00 | 218.75 |
| Monday 27th, May 2024 | 283.50 | 262.50 | 254.25 | 217.75 |
| Sunday 26th, May 2024 | 282.50 | 261.75 | 253.25 | 217.00 |
| Saturday 25th, May 2024 | 282.50 | 261.75 | 253.25 | 217.00 |
| Friday 24th, May 2024 | 282.75 | 261.75 | 253.50 | 217.25 |
| Thursday 23rd, May 2024 | 287.25 | 266.00 | 257.50 | 220.75 |
| Wednesday 22nd, May 2024 | 292.25 | 270.50 | 261.75 | 224.50 |
| Tuesday 21st, May 2024 | 292.25 | 270.50 | 261.75 | 224.50 |
| Monday 20th, May 2024 | 295.00 | 273.25 | 264.50 | 226.75 |
| Sunday 19th, May 2024 | 292.50 | 270.75 | 262.00 | 224.75 |
| Saturday 18th, May 2024 | 292.50 | 270.75 | 262.00 | 224.75 |
| Friday 17th, May 2024 | 288.00 | 266.75 | 258.25 | 221.25 |
| Thursday 16th, May 2024 | 289.50 | 268.25 | 259.50 | 222.50 |
| Wednesday 15th, May 2024 | 285.50 | 264.25 | 256.00 | 219.25 |
| Tuesday 14th, May 2024 | 284.00 | 263.00 | 254.50 | 218.00 |
| Monday 13th, May 2024 | 285.25 | 264.00 | 255.75 | 219.25 |
| Sunday 12th, May 2024 | 285.75 | 264.75 | 256.25 | 219.50 |
| Saturday 11th, May 2024 | 285.75 | 264.75 | 256.25 | 219.50 |
| Friday 10th, May 2024 | 281.25 | 260.50 | 252.25 | 216.25 |
| Thursday 9th, May 2024 | 279.75 | 259.00 | 250.75 | 214.75 |
| Wednesday 8th, May 2024 | 280.75 | 260.00 | 251.75 | 215.75 |
| Tuesday 7th, May 2024 | 281.25 | 260.50 | 252.00 | 216.00 |
| Monday 6th, May 2024 | 279.50 | 258.75 | 250.50 | 214.75 |
| Sunday 5th, May 2024 | 278.75 | 258.00 | 249.75 | 214.00 |
| Saturday 4th, May 2024 | 278.75 | 258.00 | 249.75 | 214.00 |
| Friday 3rd, May 2024 | 279.25 | 258.50 | 250.25 | 214.50 |
| Thursday 2nd, May 2024 | 278.75 | 258.25 | 250.00 | 214.25 |
International Gold Price - LBMA Gold Price - Troy Ounce
It is important to note that gold is a commonly traded commodity whose price is set internationally. A benchmark price is set in London and is used as guidance to settle trades in global markets. This price-setting mechanism is known as the London Gold Fixing.
Electronic auctions establish the LBMA (London Bullion Market Association) Gold Price. Two auctions are held every business day, one at 10.30 am and another at 3 pm (GMT). The process is administered independently by the ICE Benchmark Administration (IBA).
The auction process begins with the IBA setting a starting price based on the current spot price of gold. Participants, which include major banks and financial institutions, then place anonymous and aggregated bids and offers. These bids and offers are adjusted in rounds of 30 seconds until the auction reaches an equilibrium point where the amount of gold offered equals the amount demanded, resulting in a balanced market. If the imbalance is outside the threshold at the end of a round, the auction is not balanced, the price is adjusted, and a new round starts. If the imbalance is within the threshold, the auction is finished, and the price is set.
The price set in the morning is called the LBMA Gold Price AM, and the price set in the afternoon is called the LBMA Gold Price PM. Prices are quoted in US dollars for a troy ounce (31.1034768 grams) of pure gold (24K). The prices are used globally as a benchmark for gold contracts and products. This benchmark is regulated by the UK Financial Conduct Authority (FCA).
At the time of writing (February 2024), participants in the auction are Bank of China, Citibank, Coins' N Things, DRW Investments, Goldman Sachs, HSBC Bank, Industrial and Commercial Bank of China, Jane Street, JPMorgan Chase, Koch Supply and Trading, Marex, Morgan Stanley, Standard Chartered Bank, StoneX, and Toronto-Dominion Bank.
The table below shows LBMA Gold Prices for the last seven trading days. Equivalent prices in AED are also listed (1 USD = 3.673 AED).
| Date | USD (AM) | USD (PM) | AED (AM) | AED (PM) |
|---|---|---|---|---|
| Thursday 28th December 2023 | 2,077.80 | 2,078.40 | 7,631.76 | 7,633.96 |
| Wednesday 27th December 2023 | 2,061.70 | 2,069.40 | 7,572.62 | 7,600.91 |
| Friday 22nd December 2023 | 2,055.60 | - | 7,550.22 | - |
| Thursday 21st December 2023 | 2,034.30 | 2,041.70 | 7,471.98 | 7,499.16 |
| Wednesday 20th December 2023 | 2,036.35 | 2,035.55 | 7,479.51 | 7,476.58 |
| Tuesday 19th December 2023 | 2,026.00 | 2,041.35 | 7,441.50 | 7,497.88 |
| Monday 18th December 2023 | 2,020.95 | 2,023.95 | 7,422.95 | 7,433.97 |
| Friday 15th December 2023 | 2,043.65 | 2,032.30 | 7,506.33 | 7,464.64 |
International Gold Price - LBMA Gold Price - Gram
The LBMA Gold Price is the price for a troy ounce of pure gold. The Dubai retail rate quoted is for one gram of gold. There are 31.1034768 grams in a troy ounce. The table below shows the LBMA Gold Prices for a gram of gold over the last seven trading days for comparison purposes.
| Date | USD (AM) | USD (PM) | AED (AM) | AED (PM) |
|---|---|---|---|---|
| Thursday 28th December 2023 | 66.80 | 66.82 | 245.37 | 245.44 |
| Wednesday 27th December 2023 | 66.29 | 66.53 | 243.47 | 244.37 |
| Friday 22nd December 2023 | 66.09 | - | 242.75 | - |
| Thursday 21st December 2023 | 65.40 | 65.64 | 240.23 | 241.10 |
| Wednesday 20th December 2023 | 65.47 | 65.44 | 240.47 | 240.38 |
| Tuesday 19th December 2023 | 65.14 | 65.63 | 239.25 | 241.06 |
| Monday 18th December 2023 | 64.98 | 65.07 | 238.65 | 239.01 |
| Friday 15th December 2023 | 65.70 | 65.34 | 241.33 | 239.99 |
The Dubai retail rate and the LBMA Gold Price (1 gram equivalent) will usually differ. Reasons include:
- The LBMA Gold Price is a benchmark.
- Timing differences. Dubai is four hours ahead of London. When Dubai opens for business the most recent LBMA Gold Price will have been set the previous day.
- The Dubai gold price quoted is retail and includes a small premium to cover bullion delivery charges and customs duties. It also includes a margin to protect sellers from price fluctuations.
Gold Jewellery Prices
The price of an item of gold jewellery purchased in Dubai comprises:
- Gold price – The cost of the gold used in the item (gold weight in grams multiplied by the Dubai retail gold rate).
- Making charge – The amount added by the retailer to cover the cost of producing the item and to make a profit.
Making charge margins are low compared to other locations around the world. Retailers have lower costs to cover than elsewhere.
A value-added tax (VAT) was introduced in January 2018 in Dubai and the UAE. The rate of 5% is one of the lowest in the world.
Tourists can claim 85% of the VAT back using the Tax Refunds for Tourists Scheme (kiosks at exit points such as Dubai International Airport).
Haggling is possible at many shops and outlets in Dubai that sell gold and jewellery. However, only the making charge element of the price can be negotiated. No retailer will sell a gold item at a price equal to or less than the live value of its gold content. Cash buyers frequently obtain cheaper prices.
Aside from the Gold Souk, popular places to buy gold in Dubai include the Gold and Diamond Park, Dubai Duty Free, and major shopping malls (e.g. Dubai Mall).
Competitive making charges, the low VAT rate, and the refund scheme ensure shopping for jewellery in Dubai is considerably cheaper than in many other countries.
However, it is essential to note that you may be required to pay import/customs duties on gold and jewellery when returning to your home country. The rules and rates vary by country and cannot be covered in detail here.
