Category: Gold in Dubai

Know about the fall of gold rate in Dubai
Know about the fall of gold rate in Dubai

Regarding the sale of gold in Dubai

Dubai is a land of gold in the Middle East and it is a part of the UAE (United Arab Emirates). Gold also known as “yellow metal” is a very precious and rare metal. Gold is available in Dubai at much low prices than the rest of the world. Gold rate in Dubai is lower throughout the year. People from all across the nation as well as the whole world including the eastern and western countries come to Dubai to buy gold and gold ornaments. There are many reputed dealers in the country who sell gold at low cost to the foreigners and tourists.

Gold sales increase by sixty per cent due to fall in the gold prices
- The sale of gold in Dubai has recently increased a lot due to a sudden fall in the prices of gold in the market. The owners and sellers of gold and gold ornaments in the country have reported that the demand of gold has sharply risen for the past few days due to the price fall and the business is reaching billions throughout the world.
- The gold shops are gaining immense profit due to this buy-sell done by the business people who frequently deal in international and national exchange.
- Tourists from across the globe are visiting the country to buy bulks of gold at low rates.
- The fall in the rate of gold has largely affected the economy of the country to a very large extent. People of different professional backgrounds and classes of the society are differently affected by the price decline of gold in the nation.
- The gold of Dubai is of very pure type and contains no adulterations.
- Dubai is a city of traders and gold merchants. There are many reputed dealers and gold retail outlets in the city. They sell gold and golden ornaments following the exact low market prices.
Reasons for the fall in gold price

There are mainly two reasons for the decline of the gold prices in Dubai.
- Some states in the country have announced to sell stockpile gold to provide the liquidity.
- Another reason is the movement of speculative largely by the investors has caused the fall in the prices of gold to a large extent. They seek those from behind to collect the gold once more and seek higher prices later on.
- Thus, they can achieve better returns and profit in the future.
The golden benefits
- The present decline of the gold rate in Dubai is a very big opportunity for the people of all classes of the society across the world to avail large quantities of gold at much less prices.
- Gold is always on a very high demand in Dubai and the sudden fall in price is even attracting more customers there. Thus, do not be late and rush to the gold shops in Dubai and buy gold in good quantities at surprisingly low rates.
Hurry, since the rates will again go high after the lapse of certain time span.
May 14, 2013
The ‘City Of Gold’ Falls Short In Gold Supply as Gold Price in Dubai Hits Rock Bottom
Apart from aesthetic needs, gold has always been a form of investment. It is something that is considered to increase in value with time. Gold prices increase and decrease with time, but generally it has an increasing trend. But lately gold prices have steeply gone down, which has led to an inrush of customers and shortage of gold. World’s top gold shopping city, Dubai is also facing shortage as Gold price in Dubai has come down. This has affected gold market of other countries as Dubai has been ranked among top dealing countries.

Reasons behind this sudden fall of gold prices
- It has been reported that the fall in gold prices is mainly triggered by inquisitive traders who are doing operations in the future market.
- This inquisitive group of traders has a short term view of making gold trade profits. This is in bleak contrast with traders who have a well established base and long-term view.
- Now it has resulted in massive gold purchasers who are buying gold in bulk all over the world.
- Another reason behind this is the sell-off of 125 tons Cyprus sell order, which led to panic-selling in major investment banks accompanied by sell trigger due to declining gold price.
The Dubai scenario:

Dubai, famous for its gold centers is feeling the heat now. Customers are rushing into the gold souk (shopping area where gold alone is sold) demanding for gold. The Indians in Dubai, who makes a considerable population in Dubai, is not wasting any time. Some of them have even persuaded the salesmen to fetch them any gold material, so that he can buy them in bulk. The Dubai gold market has rocketed from a daily gold sale of 100-125 kg to 300-350 kg per day!! The city of gold is now becoming short of gold, as the gold price in Dubai has fallen.
- The condition is similar all over the world in all major markets in Europe, India, China and Japan. The physical market inrush is a clear indication of the desire to own gold, both as an investment and as an adornment.
- The gold market operates on the fundamentals of demand and supply. As of now demand is high and supply is not changing accordingly. Such dynamic changes will ultimately drive the gold prices in the long run.
- The recent dip in the prices of gold has even washed the glittering growth of jewelry makers. The end user demand will surely be the same as prices are so low. But if this trend continues, at some point the gold price would again rise up, hitting the top due to shortage of the metal.
- So although it may seem good now, in the long run it may badly affect the market and consumers later. If you are planning to buy gold, then this would be the ripe time to purchase.
May 14, 2013
The reaction of people to the current Dubai gold rate can be for the best or worse
Gold prices very literally on a constant escalation over the years. It was so high that they were considered the best space for investing money. Gold prices did not stop people from buying more and more gold for this reason. The little extra money a middle-class person had was used in the buying of gold in other words for investing in gold. This has been continuing for over two to three years until recently when the gold prices fell low. People gathered at the jewellery souks to buy as much may sovereigns of gold they can afford during this period. Gold rates in Dubai were also not spared.

The recent trends:

During the last few weeks the gold rates in Dubai in Indian rupees were so low that it attracted a lot of people from the city to buy and store gold for the next gold rate inflation. Gold has been considered very important in many cultures to accessories women and me and also is considered to indicate the wealth of an individual. Gold is essential for weddings and a huge amount of gold is worn on these special occasions. As Dubai gold rate reduced people all over the world found this as a golden opportunity. The breaking news of low gold rates attracted all people to Dubai where the rates are much lower in comparison to other places.

The highs and lows:
- Even earlier the gold rates in Dubai were highly attractive. More and more people preferred buying the gold of purity and good quality for the money paid in Dubai. In fact, the gold souks in Dubai always flourished on this concept.
- Even when the price of the gold increased everywhere Dubai had its stock of gold with a different rate. This is one of the reasons why this emirate was highly popular in the international market.
- Dubai always had its own significant contribution in the international market until the global financial crisis hit this city down.
The hopes of the people in gold market:

With the decrease in the Dubai gold rate the markets have almost come to its former shine. As people flocked into the markets it felt like the past again. The decrease in gold rates has proven advantageous to both sides the markets as well as the public. It was shocking news on the positive way for people all over the world when they came to know that the gold prices of this emirate has come down. People predicted that with the prices now low they could invest in the gold and later when the prices increase this could be of great value. For those who are close to the wedding season this was like a boon. Like always the rate of gold in Dubai has been never predictable. One can just hope that all the effort taken to use this opportunity does not look like vain in the next few days or months.
May 14, 2013
Dubai sees A dramatic increase in in bullion demand

Demand for gold in Dubai is witnessing a huge boom since the collapse of prices last month, demand far exceeds supply. Various estimates suggest that the demand in the past few weeks has been nothing less than astronomical which is about 10 times higher than normal demand.

According to the latest weekly report of precious metals by Gerhard Schubert, head of precious metals at Emirates NBD local, “participants in the financial industry in Dubai believe that was purchased approximately an additional 50 tons of gold since the collapse of the price of gold in April.

The usual numbers that Schubert refers to are the same as the demand seen since April. According to World Gold Council data, total consumer demand for gold in the UAE (not just Dubai) stood at 51.8 tonnes for the entire year 2012, which means that demand was about 4.31 tonnes per month during last year.

Compared with that, as Schubert mentions, Dubai demand in the past few weeks has been 50 tonnes plus ‘usual’ numbers, in effect reflecting the massive surge in interest that gold has seen in this past few weeks.

There are new Gold Rush , according one of directors of gold shops in the Mall of the Emirates in Dubai that there is a growing demand for coins and gold bullion and We have been running out of gold coins and bars even before they reach our stores in Dubai, where there are many of those who want to buy gold bullion to pay advances to book gold bullion Once it arrive and buy at current Dubai Gold price in Dubai.

The price of an ounce of gold fell $ to 1420 intra-day on Friday, 10 May, 2013, and last week’s trading, but recovered to less than U.S. $ 1,450 per ounce after the close of the market.

“I tried and failed in gold prices last week once again to break the first resistance level at 1485 $. Has now been tested twice this level, and will provide a decent level of resistance in the near future,” and maintains Schubert.

But demand from Dubai and Hong Kong – not to mention India and China – is anything to go by, and get ready to buy again an ounce of gold at $ 1,600 sooner rather than later.

May 13, 2013
Gold price in UAE Rise 3 AED In A week

UAE Gold prices continued gains for the third consecutive week ranging between two AED and 3 AED per gram, compared to Gold Rate by end of the previous week, according to the stated price indices in Dubai and Sharjah gold markets .

UAE Gold prices for 24K record 178 AED an increase of three dirhams for the end of the previous week, while the price of Gram-22K record 168 dirhams, an increase of three dirhams and 21K to 159 dirhams, an increase of two dirhams

Officials outlets for Jewelry gold in Dubai and Sharjah said that rises price reflected negatively on sales, especially on the bullion and gold coins, arguing that the continued increase in prices for a period of three weeks, the overall increases of nine dirhams, contributed to the decline in sales at rates ranging between ‬ 10 and ‬ 20%.

The director of the shop «Amer Jewelry», Faisal , said that «the continuation of gold in achieving heights price of new shares in the decline in sales in retail outlets, despite the fact that those price increases has gradually, and at rates prescribed Bamahdodh, compared to a decline recorded by gold prices Three weeks ago, of 20 dirhams per gram.

Percentage decline in sales during the past week by about 15%, and extended effects of jewelery and gold bullion to jewelry demand influenced by them. said Faisal

In turn, according to Director replace «Dhecan Jewellery», Jay Dhecan, that «the recent gains in gold prices impacted negatively on sales activity in the ports, especially on the bullion and gold coins obtained by the largest share in the decline in sales, after it was experiencing a high demand two weeks ago, with achieve gold rates declined at the time was described as the largest since two years.

He added that «Total sales fell an estimated 20%», expected to record the biggest drop in if gold continued its upward path.

The official sales in the shop «Jewelry Queen», Mahendra Kirkda, he stressed that «the gold market is currently experiencing a decline in demand for purchase, compared with the previous week, reducing sales at rates estimated at 10%».

He believed that dealers prefer to wait for any new decline in gold prices, though prices currently rates remain appropriate to buy, compared with March and February.

May 11, 2013
Dubai Gold Price Strikes High Record
Dubai is a city famous for its gold market over the entire world. Almost every visitor is aware of this or hears about it as soon as they land in the city. Probably that is the reason why it is referred to as a ‘City Of Gold’. This beautiful city is covered with a large number of Gold Shops that are completely tax free. There is no other gold market across the world that can match up to Dubai’s gold market. The majority of gold that is imported into the city is from some Asian countries.

The Fluctuating Gold Rates in Dubai

Gold Rate in Dubai changes hour by hour because of the heavy amount of traffic. The city imports a huge amount of this precious yellow metal from India. As a result prices are low for the foreign investors that export the gold in other places. Some of the high profile investors of the world indulge in trading of gold. The daily market has its ups and downs which can reward these investors with highs or disappoint them with the lows.

Gold Trade in Dubai
- The current gold prices in Dubai have been shaken and become more expensive in years.
- Over the last few decades Dubai Gold Price was constantly on the rise owing to lower trending.
- The gold trade in Dubai has surpassed in the year 2012 and has attained the highest record with more and more of this metal being exchanged and stocked in the emirate.
- The official figures indicate that the gold trade is estimated to be higher than last year.
- Due to less supply of gold from the countries producing gold there is an increase in the demand of gold. This increase in demand of gold has caused the gold price to rise above its previous price.
Gold Price in Dubai

There was a decline in the Dubai Gold Price in the first month of 2013 recorded by the Dubai Gold Exchange. Some financial analysts suggest that gold will remain the main component for large investors in 2013 and beyond. Gold rate in Dubai has currently reached new heights as many investors have accepted the results of the low credit rating of U.S on the down trading global economy.

Gold Interest Rates
- Gold Rate in Dubai has almost doubled since the onset of recession in 2007 and has increased this summer. This sparkling yellow metal is not just a currency substitute today but also utilized in a number of industrial purposes.
- Due to rise in its price for the first few months of 2013 there was a drop in its usage in dental services. There were many manufactures that opted to cut back on its coating on several electronic products in order to save money.
- According to the Federal Reserve gold interest rates will be low for a minimum of two years, as per the estimation by economy experts. The lower interest rates might further cause the dollar value to erode and increase its value.
May 6, 2013
Low Gold Price in Dubai Triggers Buying Spree
Gold, the yellow metal, is the preferred mode of investment globally. Last two years saw gold prices shooting up tremendously as large numbers investors began to put their money in gold foreseeing the demand and security. The general investors also find gold as a secure cash investment for their future.

Dubai – The Gold Market:

Dubai is a large gold market for both gold bullion and large and small scale jewellery. Dubai stands second in world on the distribution of bullion. Dubai reportedly has a thousand of gold outlets and with the highest number of shops in Gold souk, the gold market of Dubai. Like any other Middle East market, Dubai also has the highest number of gold buyers compared to investors. Even at the time of recession, Dubai tried to accelerate gold purchase like tax discounts to tourists. This caused people from various locations to fly to Dubai to buy gold.

Latest dip is boon to private buyers.
- Last week from 16^th day of April 2013, world market witnessed a historical dip in Gold prices due to high selling of Gold. These have alarmed the market and big shots who had greater investments in gold.
- Decrease of gold price in Dubai has triggered the purchase of gold by small investor. A lot of big shots selling their gold, small investors were found purchasing gold.
- The surge in gold price last two years deprived small investors the privilege of buying gold. The latest developments in gold market had brought back the customers to the jewelry stores. Customers find this the best time to purchase gold even though analysts are skeptical about gold market trends in upcoming months of 2013.
- After gold price in Dubai market dipped, Dubai souk was found crowded with tourists and local buyers who were celebrating the relief by purchasing gold.
- Gold Jewelers in Dubai in also recorded highest purchases of recent times as people were rushing to the stores to purchase gold in advance. Indians were found aggressively purchasing gold from the stores of Dubai.
- Jewelry shop owners are optimistic that the buying trend to continue till any other news hits the gold market.
Late in the last week, world gold council also reported scarcity of gold bullion as a result of the buying spree. Jewelry shops were also found running out of gold coins. There was huge pressure on small scale and large scale shopkeepers of Dubai to keep up with demand. The drop in gold price in Dubai had helped Arab citizens and the resident foreigners to buy gold in advance for personal purposes like Marriage and for gifts. Gold prices dropped at the perfect time nearing to summer holidays and marriages which in turn triggered the gold purchase.

Dubai is always best destination to buy pure gold and well the latest market trends suggests good scope for gold lovers to accumulate their favorites. It has been able to mark its way ahead among all other countries which sell superior gold.
May 5, 2013
UAE Gold witness Limited gains in gold prices locally

Gold rate– UAE gold prices witness limited increase in gold between AED and 1.5 dirhams per gram, compared to rates of price end of the previous week, according to the stated price indices in the markets of Dubai and Sharjah.

Officials confirmed the jewelry shops and gold artifacts in Dubai and Sharjah, that these price rises, reflected in a very limited sales, which saw a decline estimated between five and 10%, compared to the previous week.

The price of gold grams caliber (24) carats, 175.75 dirhams, an increase of 1.5 dirhams, by the end of last week, while the price of Gram-carat (22) carats ‬ 165.75 dirhams, an increase of one dirham.

And the price of a gram of rounds (21) carats to 157 dirhams, an increase of one AED, while the price of Gram-caliber (18) carat 134.5 dirhams, an increase of 1.5 dirhams.

The official said sales in the shop «Romaizan For Gold and Jewellery», Mohammed Eisaei, that «the recent price increase did not prevent dealers from demand for buying works, though sales rates were less than the previous week in limited proportions not exceeding estimates 5%».

He attributed the weakness of the effect of the price increase in sales activity, to the fact that the current prices attractive to buy, did not offset the declines recorded by mid-April gold last year, which exceeded 20 dirhams in love.

In turn, the official said sales in the shop «days Jewellery», Jalish Saqr, said that «sales fell to a limited extent, affected by the increase in gold prices to two consecutive weeks, pointing out that these did not raise the price increases to their rates as they were in March.

He stated that the «Iqbal dealers to still going to buy jewelery in preparation for weddings and summer holidays, especially from the citizens and residents of Arab nationalities, while the decline in demand from consumers of Asian nationalities.

He stated that «those limited increases have contributed to the decline in sales ratios up to about 10%, compared to the previous week.

As a sales manager in a shop «Alujain for jewelery trade», Ahmad Ebadi, he stressed that «the price of gold has seen considerable variation ranged from heights between two dirhams and three dirhams, even settled the day before yesterday when ‬ 1.5 dirhams per gram, as reflected rates limited sales, which fell ‬ 10%, compared to the previous week.

He explained that «the demand was to buy the currency and gold bullion and jewelery, especially from Ayari (‬ 22), and (‬ 21) carats, which means that the demand for the biggest transformation of savings and investment, with the start of price indices of gold in return for rising gradually».

May 5, 2013
Gold prices in Dubai today achieve an increasing gold sales

Dubai Gold Prices – Gold prices rose slightly in Dubai altitudes between AED to two dirhams during this week, according to list prices in the gold market in Dubai on Saturday.

Said many gold traders in Dubai that the rise in gold prices did not affect the movement, where sales rose gold sales in Dubai during the last month, nearly three billion dirhams, according to a report by the gold exchange in Dubai

Gold prices recorded in Dubai today 176 dirhams per gram 24 carat, scoring gram 22 carat 166 dirhams Gram-record 21-carat 157 dirhams scored gram 18 carat 135 dirhams.

Said one of the gold traders in the gold market in Dubai that the recent increase in prices did not prevent traders from buying appetite works and that there is a marked increase in the purchase of gold bullion, especially with expectations to resume gold prices to rise again.

Added that the dealers are still going to buy jewelery in preparation for weddings and summer holidays, especially from the citizens and residents of Arab nationalities especially before the summer holiday season.

As a sales manager in a shop «Alujain for jewelery trade», Ahmad Ebadi, he stressed that «the price of gold has seen considerable variation ranged from heights between two dirhams and three dirhams, even settled the day before yesterday when ‬ 1.5 dirhams per gram, as reflected rates limited sales, which fell ‬ 10%, compared to the previous week.

He explained that «the demand was to buy the currency and gold bullion and jewelery, especially from (‬ 22), and (‬ 21) carats, which means that the demand for the biggest transformation of savings and investment, with the start of price indices of gold in return for rising gradually».

The indicators in Dubai gold market refers to a wave of appetite for buying gold bullion to take advantage of the low price of gold the middle of last month.

May 5, 2013
Gold prices fall in time for the wedding season

Dubai: It is likely that the resulting decrease in the price of gold in the spot market on Thursday to raise the wave of purchasing other private buyers from India and the Gulf region.

Gold fell to its lowest level in nearly a week on Thursday, dropping 2.93 $ price ounce to $ 1,453.81.

Said Pradeep Unni, senior manager in the company traded commodities in Dubai (Richcomm Global Services) “The decline benefit domestic demand, there is a demand for gold bullion because we see value trailing added to the core value,” which has to be paid by retailers to ensure that they have enough of stock listed daily.

With wedding season approaching, will use the Buyers from India and the Gulf this opportunity to buy gold bullion and gold ore blocks, according to UNI.

In India, traditionally wear gold and give as gifts at weddings. The purchase increases during Hindu festivals, such as Guru Pushya Nakshatra, which falls this year, Diwali in October and November.

At the same time, some retailers say that a small decline in prices will not increase the demand for the precious metal, but will remain stable.

Said Chairman of the Board of Management (Pure Gold Jewellers) “The decline is very small and not make any difference in the percentage of buy more. And that our work is still strong. “

May 5, 2013