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Jun 12, 2025
Whether you want to stand out among the people you sit with or wish to invest with a high guarantee of returns, gold is the buyers' top priority. However, the question arises of where to buy high-quality gold at a suitable price. Dubai is the first country that comes to mind for many people, whether expats or tourists, Dubai is the place where they buy gold. The country is even known as the "City of Gold," making it more famous among people who buy gold. However, this is not the sole reason; other reasons are discussed in the following article.
People's first thought when buying gold is whether it is pure or made of alloys. But when buying gold in Dubai, you do not need to be worried. All merchants selling gold or gold jewellery are regulated by Dubai's government, which helps ensure the authenticity of the gold sold in their premises. Moreover, the merchants must carry a gold purity hallmark for the gold articles they sell in their shops, and they must present it to their customers upon their request. This is why gold is famous among the expat community, enabling them to carry it to their home country.
This "City of Gold" provides gold to its buyers without charging a tax, so the buyers only have to pay the price of the gold. This exemption from taxes is one reason customers can get the gold and its articles at an affordable cost, attracting expats and residents to buy gold from the Dubai market. Though a VAT (Value Added Tax) of 5 per cent is levied on the gold article, it still makes the overall price of gold cheaper than that of any international market.
Gold is counted among the articles that are duty-free, which means no customs duty is imposed on the import or export of gold in Dubai. Moreover, some other countries also don't impose any customs duty on the import of gold. Thus, the value you have paid while buying the gold is the only cost; hence, you can export the gold to your home country without additional charges. This is even a good option when you buy the gold for investment, and buy it in your home country at a higher rate.
Dubai is a heaven for shopaholics when shopping in the Dubai markets. There are famous and top-pick shops in various malls across the city, where you can buy gold in Dubai. Moreover, the country houses a row of jewellery shops in one of the oldest traditional souks in Dubai, where you can find an array of options for your jewellery. Thus, in the Emirates, you will be guaranteed to have multiple options from renowned shops, making it easy for expats to buy gold from there.
As the Dubai markets follow the international rate for gold, there is uniformity in prices all over the nation. Following the global rates, the rate of gold fluctuates regularly, like any other stock in the international market. Thus, expats take advantage of buying the gold in Dubai when the rates are lower and can sell it anytime when the price increases, like in a stock market.
Shop owners issued some making charges on gold jewellery. These charges varied from shop to shop and item to item based on the type of jewellery and the retailer from which you buy it. There are some big shops where the making charges are non-negotiable, but at some old shops in Dubai Gold Souk, you can save a considerable amount with your bargaining skills. This draws the attention of expats towards the gold available in Dubai.
Apart from all the above-mentioned benefits and characteristics of the gold market in Dubai, expats are also attracted to it because of the safe and secure environment provided for gold buyers. The atmosphere of the Emirates is considered suitable for the gold purchaser because its transaction process is transparent and also adheres to the international standard of business.
Conclusion
In short, all of the above reasons make everyone fascinated with the gold of Dubai, irrespective of whether a person is an expat or a tourist. They can easily buy this valuable metal while being out for work or fun, and they can get it at a cheaper cost and in a variety of options. The metal can be further sold for a profit or used as an ornament to stand out among others in large gatherings.
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