Dubai Gold Prices Today: Cost of Gold Down; Check Rates On January 17

Last Update: January 17th, 2023, 12:50 PM IST

Dubai has been a favorite among buyers from all over the world to buy gold and jewellery.

Dubai has been a favorite among buyers from all over the world to buy gold and jewellery.

Dubai Gold Prices Today: Gold Price Down; Check Prices (Jan 17, Gold Price in Dubai: While rates are cheaper in Dubai, what is the cost of 24 carat gold in Dubai? Latest Updates on News18.com

Gold prices in Dubai registered a decline in the morning trading session on Tuesday, January 17. The 24-karat gold price in the United Arab Emirates (UAE) fell by 0.25 against the Emirati Dirham (AED) or Indian Rupee (INR). ) 5.56 per gram and stood at Dh 231.5 or Rs 5,155.25 in this morning’s trading session. 22 carat gold was trading at Dh 214.25 or Rs 4,771.01, down by Dh 0.5 or Rs 11.13 per gram.

Data from the Dubai Gold and Jewelery Group said that one gram of the 21-carat variety of the precious metal was priced at Dh 207.50, or Rs 4,620.87, a decrease of Dh 0.25. The price of the 18-carat variety of the yellow metal also fell by Dh 0.25. It traded at Dh 177.75 or Rs 3,958.46. Gold, on the other hand, declined by Dh 11.01 or Rs 245.19 an ounce, pulling down the price to Dh 7,017.04 or Rs 156,268.68.

Silver showed an uptrend in Dubai, trading marginally higher by Dh 2.59 or Rs 57.68 per kg at Dh 2856.43 or Rs 63,643.03.

Dubai has been a favorite among buyers from all over the world to buy gold and jewellery. For Indians, markets such as Meena Bazaar, Bania Street and Gold Souk offer a variety of designs. The Dubai market is also home to several Indian brands such as Joyllukas, Kalyan Jewellers, Malabar Gold and Tanishq.

The City of Gold is not only loved for its design but also because it offers very competitive pricing. Not only are the prices accurate due to the same-day international pricing of the country’s stores, but they are also exceptionally low due to low taxes. The purchase of gold bars is completely tax-free, while there is only a 5 per cent Value Added Tax (VAT) on the purchase of gold jewelery – one of the lowest in the world. In addition, on passport declaration, tourists get a refund on VAT.

While rates are very cheap in Dubai, Indian citizens need to remember that there are several restrictions on how much gold one can bring India From abroad. If the prescribed limit is exceeded, people will have to pay excessive customs duty and other charges.

read all latest business news Here