24K gold has slightly decreased from AED 403.25 yesterday to AED 402.50 today—a modest drop of AED 0.75 per gram. Similarly, 22K gold fell by AED 1, from AED 373.50 to AED 372.50.
Dubai, often dubbed the “City of Gold,” accounted for about 25% of the world’s annual gold trade in past years, competing with global peers like Shanghai and London.
Retail vs. Spot Pricing
Retail gold prices in Dubai include a small markup over international spot rates to cover logistics and making charges. For example, gold bar spot prices (from GoldTrade) show AED 394.72 per gram (~USD 107.41) as of early today—slightly lower than the retail rates above.
The Gold Souk Experience
Slide down the narrow alleys of the Dubai Gold Souk in Deira to find over 380 jewelry retailers offering a dazzling variety of gold, diamonds, and platinum—often below mall or global retail prices.
Tips for Buyers & Investors
Tip
What to Do
Compare Spot vs Retail
Spot prices (e.g., AED 394.72/g) give a benchmark; retail adds ~4-5 AED/g of costs
Negotiate in Souk
The Gold Souk is famed for haggling—don’t hesitate to negotiate making charges.
Use Reliable Sources
Track live rates via Gulf News live feed or iGold charts for up-to-the-minute insight
Track Trends
Prices are relatively stable currently; small fluctuations like today’s drop of AED 0.75/g for 24K are common.