dubaigoldrates

Category: Gold in Dubai

  • Limited Gains In UAE Gold Prices

    Limited Gains In UAE Gold Prices

    Limited gains in gold prices

    Gold prices in UAE today recorded a limited rise in the price of a gram of between 0.50 to 0.75 fils Compared to gold prices last week, according to the price of gold declared on the Dubai Stock Exchange and the Dubai gold market and Zayed City Market for gold in the capital Abu Dhabi

    The officials outlets confirmed gold sales in Dubai said the vagaries of low gold prices during the month contributed to the support, where sales increased appetite for buying gold bullion.

    The price of gold grams (24) Karat 168 dirhams, an increase of AED for the end of the previous week, while the price of Gram (22) Karat ‬ 158.75 dirhams, an increase of 75 fils.

    And the price of a gram (21) Karat 150 dirhams, an increase of 75 fils, while the price of Gram (18) Karat 128.75 dirhams, down amounted to 75 fils.

    «Markets experiencing a continuation of the demand for gold jewelery sales and bullion, coins, and did not adversely affected Heights the described as very limited» said General Director of «Dhecan Jewelry », Jay Dhecan,

    Dhecan added that the decline in gold prices during the previous week, making the average prices at the borders of incentive to buy, not notified more than two years ago, prompting a large number of dealers of residents and tourists, to buy

    For his part, agreed that sales in the official shop «Annan jewelry», Mohammad Shams, with Dhecan in that the limited gains in gold prices supported the continued demand for buying works.

    He said that «outlets currently experiencing demand from dealers to buy bullion and gold coins, which ran out of some shops, with high purchasing them, in addition to jewelry, especially from Ayari ‬ 21, and ‬ 22 carats that are suited for decoration and savings together».

    As a sales manager in a shop «ATM Jewelry», Abdullah Mohammed Thami, he stressed that the markets are still experiencing a growing demand for sales of jewelery, considering lower prices ahead of the summer holiday season of the positive things that support the sales rates.

  • Gold Rate UAE Today: Latest updates

    Gold Rate UAE Today: Latest updates

    Gold Rate UAE Today: Latest updates

    Gold prices UAE in futures trade moved in narrow range at AED 1695.46 per ten grams in opening session of trade Friday in Dubai Gold and Commodities Exchange and Gold ounce in Dubai open at AED 5135

    Gold prices edged yesterday Thursday after investors sought to turn to gold after it hit the dollar and the stock markets by a large number of weak manufacturing data that pointed to the growth of the global economy in the doldrums.

    Equity markets fell in all parts of the world, extending losses the previous day’s sharp, amid concerns about global economic growth and the timing of the end of the stimulus program of the Federal Reserve in the United States.

    In New York, he moved to gold for June delivery closed higher by $ 24.40, or 1.7%, to settle at 1,391.80 USD an ounce on the Comex division of the New York Mercantile Exchange.

    Dubai Spot gold last traded at 1.66 percent, at 1,391.30 USD an ounce, near its lowest level in two years at $ 1,321.35 an ounce in mid-April

    HSBC index that the decline in purchases from China for the month of May fell under the 50-point level that separates expansion from contraction, for the first time since October.

    It is expected to see the price of gold today limited move before the close of trading at the end of the day Friday could range between $ 1400-1410 per ounce today.

  • Gold Prices In Dubai Per 10 gm Down 70 AED

    Gold Prices In Dubai Per 10 gm Down 70 AED

    Gold Prices In Dubai Per 10 gm Down 70 AED
    Dubai Gold Rate – Gold price in Dubai witness decrese in gold price this week as gloabal gold price down .

    Today Gold Prices In Dubai Per 10 gm record 1610 AED down from 1680 AED last week

    22K today in Dubai 152.12 AED and 18 K in Dubai 123.90 AED

    Officials outlets for Jewelry and Craft gold in Dubai and Sharjah confirmed 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%.

  • Tourists pitch into UAE gold buying spree

    Tourists pitch into UAE gold buying spree

    Tourists pitch into UAE gold buying spree

    Dubai Gold Rate : Gold, in any form, has now emerged the favoured souvenir for visitors to the UAE, as they try to take full advantage of the volatility the metal prices have had since the second-half of April.

    Visitors from India certainly are buying their money’s worth, and so it seems are those from China, Pakistan and some of the other Asian countries. The preference is definitely for the 22 carat, which on Friday was at Dh163 a gram.

    Buying activity picked up a notch since Thursday in the local gold souq, with significant support also coming in from visitors.

    “There is a lot of retail support for price in the range of Dh160-Dh168 a gram, though the floodgates open at the Dh152-Dh158 level, which is what happened between April 11 and April 22,” said Cyriac Varghese, general manager at Sky Jewellery. “But for tourists and those flying back to their home countries now, buying gold or jewellery in the UAE offers a definite price advantage.”

    According to anecdotal feedback, Indian customs are taking a more lenient approach towards gold and jewellery being brought in by passengers from the UAE. Also, the Indian government had raised the threshold — in value and gram — in the recent budget that Indians could bring back into the country.

    The price differential between buying here and in India is 7 per cent, and on top of that there is the difference on the making charges.

    Pre-bookings

    Some of the retail chains have been offering pre-bookings, which helped lock in sales at Dh157 a gram during the week. Others waived making charges on gold coins to get retail buyers into shops this week.

    “By removing the making charges, the intention is to engage with shoppers looking for the small value investment transaction,” said Shamlal Ahmad, director of international operations at Malabar Gold.

    Historically, those who prefer to buy coins or bars represent between 5-8 per cent of retail level sales. Such transactions saw a marked spike in the period between April 11 and April 22 when gold prices went through a period of volatility unseen in recent years. Indications are that it touched the 30 per cent mark during this phase.

    “The majority of retail buyers are not bothered by factors such as central bank sell-offs of bullion, dollar tracking upwards or weakening economic data,” said a bullion analyst in Dubai. “Their interest in gold is elemental, you see that among Indians and now in increasing degrees among Chinese buyers. Any downwards pressure on gold in the coming weeks, and it would set off another round of frenetic buying.”

  • Dubai Spot Gold Today

    Dubai Spot Gold Today

    Dubai Gold

    Spot Gold in dubai today record $1377/OZ in Dubai Gold Exchange raise by 0.42 % from yesterday $1367.30 USD/Ounce of gold in the Spot market.

  • Gold Price India down by Rs 650

    Gold Price India down by Rs 650

    Gold Price India down by Rs 650

    Dubai Gold Rate : Price of gold has been fixed at Rs. 49,100 per tola today, the first day of the week.

    The gold price came down to Rs. 49,100 decreasing by Rs. 650 per tola as compared to Friday, according to the Nepal Gold and Silver Dealers´ Association (NEGOSIDA).

    The gold was traded at Rs. 49,750 per tola on Friday.

    Similarly, price of worked gold has gone down at Rs. 48,850 per tola today, which was Rs. 49,500 on Friday.

    Likewise, price of silver also decreased by Rs. five per tola and traded at Rs. 850, according to the NEGOSIDA.

    The NEGOSIDA does not determine the price of gold and silver on Saturday.

    Chairman of the NEGOSIDA, Maniratna Shakya, said that the price of gold has decreased today due to the impact of international market.

  • UAE Gold Price Down 10 AED Per Gram

    UAE Gold Price Down 10 AED Per Gram

    UAE Gold Price Down 10 AED Per Gram

    Dubai Gold – UAE gold price declines ranged between 8.5 and 10.75 AED per gram, compared to gold rates of previous week, according to the stated price indices in Dubai gold markets and Abu Dahbi.

    Officials outlets jewelry and gold in Dubai and Sharjah said that declines of gold prices, finally, as a rebound heights are price, which continued for a period of three weeks, arguing that the rates of decline large price, impacted positively on sales of bullion and gold coins and jewelry, which has grown up to ‬ 40%.

    Gold rate UAE for 24K record 167.25 AED a decline of 10.75 AED for the end of the previous week, while 22K record 158 AED, down 10 AED.

    The price of 21K to ‬ 149.25 AED, a decrease of 9.75 AED, while the price 18K reach 128 AED, down amounted to 8.50 AED.

    The director of sales in a shop «ATM Jewelry», Abdullah Mohammed Thami, said that «large percentage decline recorded by gold prices, market activity returned again, after achieving prices continued altitudes three weeks with different values​​, as a whole amounted to about seven dirhams».

    He stressed that «consumers turned to purchase jewelry and bullion, raising sales grew by 40%, compared to the previous week. In turn, the official estimated sales in the shop «Jewelry days», Jalish Sakr, the growth of gold sales, increased by ranged between ‬ 20 and ‬ 30% during the past two days, as a result of lower prices, noting that it included jewelry, and bullion and gold coins.

    He said that «Impairment exceeded ‬ 10 dirhams, which is a strong incentive to buy, whether for savings and investment, or to adorn gifts», and expected to see sales grow larger, with continued price when rates are close, especially with the asylum Most dealers to buy now, in preparation for the holidays summer end of May.

    In the same vein, an official said sales in the shop «palm Jewellery», Samir Ali, said that «low price reflected positively on the markets to buy gold», indicating that acquisitions focused on gold  (‬ 22) and (‬ 21) carats .

  • Gold prices in Dubai fall with increased appetite for gold

    Gold prices in Dubai fall with increased appetite for gold

    Gold prices in Dubai fall with increased appetite for gold

    Gold price in Dubai dropped over the past week as the price of 22k to 156 dirhams per gram decrease of 15 dirhams for price last year, shed the yellow metal for about 30 percent of its value since the highs gold ever on September 6, 2011,when it rose to $ 1,923 per ounce.

    Said Joy Alukkas, Chairman of Joy Alukkas Group that dip in gold prices contributed to increase the sales during the past few weeks more than 70 per cent compared to the same period of 2012. During celebrations Akshaya Tritiya and most of the jewelry outlets saw an upswing of 15 per cent.

    “Gold price can not be predicted exactly., But this is a good time to buy,” said Joy Alukkas.

    Said Shamlal Ahmad, Managing Director International Operations, Malabar Gold that UAE Gold sales jump up to 100 percent of the gold sales in the UAE and Dubai in particular And Dubai Gold Souk witnessing abnormal activity of the volume of sales since the lower in world gold prices in mid-April.

    We expect to continue increase Dubai Gold for a considerable period, especially with the expectations not high gold prices in the near said Ahmed Hilal, director of Space Crescent Jewellery in Dubai.

    According to World Gold Council , gold demand fell 13 per cent in the first quarter as a result of the liquidation of a large-scale in the exchange traded fund while the demand for gold in jewelry rose 12 per cent.

    “The demand for jewelry in markets across the Middle East has seen a rebound in the first quarter”

    Recorded UAE gold sales of $ 1.14 billion in the first quarter of 2013, an increase of eight per cent in terms of value during the same quarter in 2012, gold sales in the UAE rose to $ 3.36 billion, which represents about one-third of the $ 10.1 billion in gold sales in the entire Middle East region in 2012, according to the World gold Council report.

    Said Steve Land, portfolio manager and research analyst at Franklin Equity Group that the main drivers of the gold price crash seems to be a sell-off in exchange-traded funds backed by gold and gold investments.

    Land said that there is a significant lower in the amount of gold in the global investment funds traded since February of this year, which effectively moved a large amount of gold out of the investment market. ”

    Land added that other factors behind the collapse of gold prices is the fear of the debt problem of Cyprus and the strength of the U.S. dollar, and improving equity markets / global economy and limited signs of inflation at the global level.

    “Although gold prices are nearly impossible to forecast, we believe there are still compelling reasons for having exposure to gold through related equities in the current environment. Gold acts as a store of value in times of uncertainty and may act as a potential hedge against a weak US dollar or rising inflation,” said Land.

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  • How to sell Gold in Dubai For cash

    How to sell Gold in Dubai For cash

    How to sell Gold in Dubai

    Dubai can be termed as a Land of Gold. The Dubai Gold Souk is world famous for its shops dealing with Gold items.

    Several gold kiosk /Express outlets are springing up rapidly in Dubai. Smaller outlets are now preferred by businessmen as they have lower rent charges and business can be managed using lesser number of staff. This trend comes in handy to everyone who has plans to sell their gold. You can be assured of selling the gold in any one of these outlets. Gold is valued by its karats, which include 10k, 14k, 18k and 24k. The purest form of gold is 24k and brings in the most amount of money

    Places to sell Gold

    There is a high demand for Gold Jewelry in

    • The malls and souks (open air markets) of Dubai,
    • On Maktoum Road, Dubai’s equivalent to Old Bond Street in London.

    Gold is normally sold as ornaments or coins. In the case of ornaments ,you have the option of selling old gold in exchange for new /latest models. There are exchange offers which will be advertised mostly on the front door signboards itself. Some of the shops offering exchange facilities in the Gold Souk, Deira are Kanz, G.B and Barakat. These shops have other branches in Deira as well as in the Dubai mall gold souk area. Gold Jewelry designers such as Tiffany, Cartier and Chopard, Italian gold jewelry designs by gold jewelers such as Pasquale Bruni and Roberto Coin are also available at Dubai, so if you are after the latest designs, you’ll surely have fun exchanging your old pieces.

    If you require cash, in exchange for your gold, Al Taj, which is located in the alley of gold shops surrounding the covered part of the gold souk and Al Khatib, near Al Taj are highly recommended for their reliability in such deals. They normally group your gold into 18K, 22K and 24K to weigh and estimate their value. These two shops require your Passport and not any other ID card. Also remember to bring any certificate obtained during the purchase of that particular piece of gold. Sometimes you may be asked to prove that the gold has a hallmark. The whole process will not take much time as most of the staff in the Gold Souk shops are experts at estimating the value and worth of gold and buying it from customers. Sometimes when dealing with a sale, the police authorities are called up to take photographs of the gold being sold and to sign off the deal. There is no reason to be alarmed as it’s just a security measure. However to be on the safer side, please do make sure your gold is pure and you have all the required proof with you.

    Documents you should have when trying to sell your gold.

    • A valid ID-This can be a Labor card, Passport, Driving License or Emirates ID.
    • A bill / proof of purchase of the gold you want to sell.

    Tips

    • Usually more people visit shops in the evenings, so you have more chances of buyers that time.
    • Do not forget to check the weight of your gold in more than one place, just to be sure.
    • You can search on the Internet for online buyers. Check out the online yellow pages directory t find online buyers, pawn shops and jewelry stores. An online gold buyer normally provides the highest quotes and the deal has a quick turnaround time and lower overhead expenses.
    • However make sure that these online traders are reliable.
    • If possible, confirm if the gold buyer has a satisfaction guarantee. This will guarantee a good track record and trustworthiness in business deals.
  • Sales not affected wholly by the increased gold rate in Dubai

    Sales not affected wholly by the increased gold rate in Dubai

    Sales not affected wholly by the increased gold rate in Dubai
    Dubai Gold rate

    Are you aware of the gold rate in Dubai? Gold is an asset as well as an ornament, which is crucial to many occasions including wedding according to many traditional aspects. However, gold markets are seen to show increasing rates, which questions the sales. For the importance, gold has in our lives and the value of gold more than money, there is no much difference in the selling numbers and the customers.

    There is a major group of people across the world, which wouldn’t compromise their special days without gold. They would want this precious metal to shine in the functions with all possible glory. Many traditional ornaments come modernized on the market and these days, it has covered major ratio of the market. People are falling off for such kind of gold ornaments, which are hugely sold in almost all developing and developed countries.

    Stealing hearts with tradition

    • You see many modern designs based on the traditional ones in the market.
    • These are in great demand too. The making charges and stuffs are often neglected by the gold ornament lovers.
    • Gifting a gold ornament or buying one for you is supposed to bring you the richness and it is indeed a treasure.
    • The old generation considers this as a prosperous event and they believe this enriches you days ahead. Wedding rings and chains are made of gold for its long lasting and comforting characteristics. They remain with you forever.
    • Gold is a base for many precious stones like diamond as well. It is a bit costly, but s depended upon worldwide for the various uses and ornament designs.

    Value of gold ornaments

    Despite of the gold rate in Dubai, the sales are hitting high limits. How this is made possible? This would enigma going in your mind. As per tradition, a girl on her wedding day wears a set of ornaments made of gold, in different regions. Dubai has people from various parts of the globe including Indians, who are much concerned about such practices. This is the reason for hiking sale of gold every year. More than money, the culture and this as a comforting asset hold up in this situation.

    Ornaments for men

    A few years back men were not so much interested in wearing gold ornaments. Now there are chains, rings and bracelets that come in vibrant patterns to satisfy the male customers too. For a marriage function too, these classes of ornaments find great sales. As of now, every gender and age group is gifted with modern gold ornaments for regular as well as occasional uses desirably. From an infant to an old aged man, gold as an ornament is usually worn. There is hardly anybody, who doesn’t even wear a gold ring.

    An awesome investment option

    Save gold for the future too, it is great for a backup for a sudden financial crisis encountered too. Gold is an asset, investment as well as an ornament for you.