Dubai Gold Price Today: Prices Remain Stable In UAE Market; Check Rates on January 3

The gold price in Dubai remained unchanged for the fourth consecutive day on Tuesday, January 3. Gold price is stable in UAE since 31st December. However, buyers buying gold using the Indian Rupee (INR) will still see a change in prices due to fluctuating exchange rates with the Arab Emirates Dirham (AED). Dh 1 was worth Rs 22.53 on Tuesday at 10.28 am IST. Data from the Gold and Jewelery Group showed that 24-carat gold held steady at AED 221, or Rs 4,980.04, in Dubai during the morning trading session. The price of 22 carat gold for the same quantity was Dh 204.75 or Rs 4,613.90.

There was also no change in the prices of 21 carat and 18 carat varieties. While 22 carat gold was priced at AED 198.25 or Rs 4,467.95 per gram in Dubai, 18 carat gold was priced at AED 169.75 or Rs 3,825.70 per gram. The rate of one ounce of gold was 6,701.42 dirhams or Rs 151,025.41. In Dubai on January 3, one kilogram of silver was sold at Dir 2863.22 or Rs 64,527.84.

Dubai, known as the “City of Gold”, is a favorite destination for buying gold among people across the globe. The main reason this Middle-Eastern city attracts a large number of buyers every year is the low prices of the precious metal. This is a result of the UAE government’s policy of not taxing the purchase of gold in the country. Furthermore, UAE gold shops offer the best international rates to customers as they follow international free market pricing of bullion. India Today, he has to shell out Rs 5,558 for a gram of 24-karat gold in his home country, while buying the same quality and quantity at a shop in Dubai would cost him Rs 4,980.04 less. Buyers can further reduce the total amount to be paid for gold jewelry by bargaining over the making charges levied by the store. While this can also be done in stores in India, the extent to which building fees can be negotiated is greater in Dubai.

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