Small spike in rates; Check the latest gold prices in UAE here | News Bharat

The price of gold in the United Arab Emirates (UAE), including in Dubai, saw some changes from Tuesday, November 29. On Wednesday, November 30, the cost per gram of 24-carat gold in the country increased by 0.5 UAE. Dirham (AED) to reach 212.50, or approximately Rs 4,721, in the morning trading session. In the same session, the cost of the 22-karat gold variety also rose by the same amount to 199.75 dirhams (Rs 4,437.62). One kg of silver traded at Dh2518 (Rs55,962.37) on Wednesday.

The price per ounce of gold rose by a significantly larger margin. Compared to the last recorded levels, there was a jump of 14.68 dirhams in prices, making the cost of an ounce of gold to 6,444.52 dirhams (Rs 143,165.15 ) in Dubai.

Data from Dubai Gold and Jewelery Group revealed that 21-carat gold rose Dh0.5 to trade at 190.5, while 18-carat rose by Dh0.25 to trade at 163, 25 in the morning session.

Dubai, the ‘City of Gold’, is a preferred place to buy the yellow metal for Indians as the prices here are lower than those recorded in India. This is because buying gold in the UAE is tax-free. As a result, while the price of a gram of 24 carat gold in India is 5,297, in Dubai, it is 4,721, a difference of 576 rupees. Gold from Dubai is also preferred because the quality of the yellow metal is believed to be superior here. to those available around the world. Finally, the market is well regulated and more organized. This adds an extra layer of security when buying the bullion. Another attractive factor is the wide variety of designs available in this Middle Eastern city. .

However, as enticing as the prospect of buying gold in the UAE and bringing it to India is, it is not easy. The Government of India levies heavy taxes on the import of gold into the country. Consequently, the de facto price you pay to buy gold is much higher if you plan to bring it back to India.

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