UAE gold market
Gold in the UAE is quoted in dirhams per gram, with official retail rates set each morning by the Dubai Gold & Jewellery Group (DGJG) and adjusted intraday when global prices move sharply. The market's heart is the Dubai Gold Souk in Deira — hundreds of shops in covered lanes selling 22-karat, 21-karat and 18-karat jewellery — alongside the air-conditioned Dubai Gold & Diamond Park. Well-known retailers include Damas, Malabar Gold & Diamonds, Joyalukkas and Pure Gold Jewellers.
Buyers fall into three groups: tourists hunting for tax-efficient jewellery, South Asian diaspora families buying 22-karat wedding sets, and investors purchasing 24-karat bars and coins (100 g, 500 g and 1 kg are standard). Because the dirham is pegged to the US dollar, the UAE price tracks the international spot price very closely — the "Dubai premium" over spot is among the world's smallest, which is a large part of the city's appeal. Making charges are negotiable, especially in the Souk, and typically range from near zero on 24-karat bars to 5–15% on intricate 22-karat jewellery. Always confirm the per-gram gold rate, the making charge and the VAT treatment separately before paying.
Taxes and rules
The UAE applies a standard 5% VAT, and gold jewellery sold at retail carries this VAT. However, investment-grade gold — bars, ingots and coins of at least 99% purity traded in forms acceptable to global bullion markets — qualifies for zero-rated VAT in qualifying business-to-business transactions under the reverse-charge mechanism. Retail sales to end consumers do not qualify for zero-rating, though tourists can reclaim roughly 85% of the VAT paid on jewellery through the airport tourist-refund scheme (keep your receipts and shop at participating retailers). There is no capital-gains tax for individuals who qualify as UAE tax residents, and bullion imports are generally duty-free, which together make the UAE one of the world's most tax-friendly gold markets. Jewellery imports can attract around 5% customs duty.
For zakat calculators
The UAE's large Muslim population includes many South Asian families who think in tolas: 7.5 tolas equals the 87.48-gram gold nisab almost exactly. Convert the DGJG per-gram rate to a per-tola figure (multiply by 11.6638) or convert your tolas to grams, add cash and silver holdings, and compare against the nisab. With no VAT on investment-grade bullion in qualifying trades, the cleanest zakat valuation uses the bare metal price.
Try our free zakat calculator with live prices and automatic nisab check. Farmers: also see our ushr calculator.
Frequently asked questions
What is the gold price per gram in the UAE today?
The Dubai Gold & Jewellery Group sets official per-gram rates each morning for 24K, 22K, 21K and 18K gold, based on the international spot price. Rates are published widely by UAE media and dealers — check the current day's DGJG figure, as it can be adjusted intraday.
Is gold cheaper in Dubai than in India?
Usually yes, by roughly 10–15% on finished jewellery. India adds about 15% import duty plus 3% GST (and 5% on making charges), while Dubai has minimal premiums over spot, 5% VAT on jewellery only, and negotiable making charges.
Do tourists get a VAT refund on gold in the UAE?
Yes. Tourists buying from participating retailers can reclaim approximately 85% of the 5% VAT paid on gold jewellery through the airport refund scheme. Keep all receipts and validate them before departure.
What is the Dubai Gold Souk?
The historic gold market in Dubai's Deira district — one of the world's largest retail gold bazaars, with hundreds of shops selling jewellery and bullion. Prices follow the official daily rate, making charges are negotiable, and reputable dealers display DGJG rates openly.
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