Buying Gold in the UAE? Here are Your Options!
It is a commonly known fact that the UAE is the hub for trading gold across the world. It is home to a variety of gold bullion dealers, refineries, bullion investment organizations, and trading of jewelry and gold coins.
Instead of asking where to purchase gold in the UAE, you should ask about the amount you can invest in it because of the huge range of options available for purchasing gold across the Emirates.
For instance, you can make an investment of up to AED 15,000. In such a situation, it would be ideal for you to approach small dealers. All the dealers in the UAE levy nationally determined rates on precious metals.
However, sometimes, a certain amount of premium may be added to the standard gold rate in UAE, also called the maker’s fees. These charges are low in comparison to the western rates of bullion bars, the locally produced ones especially.
In case you want to make a huge gold investment, then you should approach the large dealers or probably investment houses for gold such as Bullion Vault or Regal Assets. You also have the option of local dealers such as Kaloti and more, mostly located in the Multi-commodity centers in Dubai.
You also have the option of selecting digital trading for bullion provided by the new bullion traders through the Dubai Gold & Commodity Exchange.
Key Factors to be Considered While Buying Gold
- It is important to check the gold seller or the company’s history.
- You should be aware of the customer service offered by the seller and how effective it is.
- You should have a piece of detailed knowledge about the policies of the company and its reputation in the market.
- It is crucial to check the buyback policy of the seller/company.
- If you are purchasing gold online, then you should check the reviews of the company or seller online before purchasing.
- Fees are an important aspect. You need to check the premium or making fees charged by the seller.
Best Gold Dealers in the UAE (Offline)
We have listed for you the best gold dealers in the UAE.
- National Bullion House
- National Metal DMCC
- Dhab DMCC
- Gold Standard DMCC
- Kaloti Precious Metals
- Al Etihad Gold
- Emirates Gold
- Al Bahrain Jewelers
It is to be noted that these dealers are not ranked in any particular order.
Manufacturers of Bullion in the UAE
UAE has a lot of producers of local bullion bars and large-scale gold refineries, which sell this precious metal at low premiums. The exotic bullion manufactured in the UK, USA, Australia, and Switzerland is also available.
Kaloti is the largest gold refinery in Dubai and produces the most notorious bullion bars in the UAE. Then, there are 24K reproductions of gold monarchs the UK, which are sold in the majority of souks. The Swiss bullion manufacturer, PAMP is also set to build its credibility across the Emirates.
Purchasing Gold from the Gold Souks
If you go around asking for the best gold souk in the Emirates or in fact, in the whole Middle East region, you will get Deira Gold Souk in the region. This gold souk has the largest collection of gold bullion and jewelry.
As per reports, Deira, situated in the City of Gold, Dubai, on average contains around 10 tons of gold at one particular time. This souk gets regular visits from tourists and investors alike.
Other than Deira, Al Raffa, New Gold Souk, and Gold Diamond Park are other large gold souks in the Emirate of Dubai.
In a Nutshell!
Without a doubt, there is something valuable about gold no matter which era we are living in. The credit goes to its luxurious nature and finite supply. Gold acts as a safe haven for investors. This article gives you a brief guide on how and where to purchase gold from the UAE.