Buy Gold from Dubai?

[Hyde]

The highest carat gold is not recommended as its soft and looks very very pale.

Yes if you buy original 24 carat gold (99.99%) that is soft and gradually start moulding in amorphous shapes. You can't make a design from the original gold and it will always be painful unless you do not belong to 18th century.

I don't want to buy pure gold... 18 carat or 21 carat is fine to me.... even lower if i find good looking design. The main attention of buying gold from Dubai is to see if its cheaper... otherwise UK main Pakistan se bhi achay designs mil jatay hain Gold ke

anyway yeh we heard prices at Dubai are lower than the local market besides many people who go on hujj buy tons of gold from Saudi Arabia too as there too gold is cheaper than Pakistan

Yes, I went to perform Hajj with my parents and the first thing my mom did was to enter a gold shop and start looking jewelry. I had made a budget for everything and part of that money could have been used to purchase Gold but on the very first week of our pilgrimage my mom had done enough gold shopping that I had no money left for even eating food and I had to use my aunty's money and didn't even notify her before arrival literally I used her £2000 pounds of money that I had it for other purpose and all my money + aunt's money was used to buy gold

I understand the designs were beautiful but i think even Saudi's raise their prices during Hajj. You should never do shopping during Hajj i think... Let the hajj get over and then start visiting Gold shops... you will find a difference in prices (thats my opinion only). The designs don't get run away but the shop-owners may raise their prices during Hajj.

 

[kingdurgaking]

well I know all this but i heard Dubai does not charge taxes that extensively drops its real value and it becomes cheaper for the customers. So I thought why not ask here from PDF members. Who knows if any of you have an answer or better advise to my previous query

hmmm i am not sure whether there is tax for gold in Pakistan... As far as i know in India there is no tax..however money is collected in some other form like surcharge(waste).. In dubai.. they charge AED 5 extra for each gm you purchase as making charge this is for local made jewels.. you can bargain and reduce at the max to AED 4.5 to AED 4 not less that that... If you go for good design like singapore models they will charge AED 25 or more and they will never reduce those making charges for them... had a hard time when i bought gold for my wife

 

[Awesome]

do you know any gold website Asim? from where i could see the prices of different jewelry?

and what about taxes in Dubai? - i heard that makes huge difference in original price.

There won't be any sales tax obviously... There are no direct taxes here (tons of indirect ones but doesn't matter in your case).

I don't know websites, but I can tell you some big chain jewelery shops.

Damas
ARY Jewelers
Joy Allukas
Pure Gold
Chitillapilly (Is always filled with Indians buying gold in tons)

But the real deals are in the Gold Souk, Deira and Gold Souk, Sharjah.

The gold souk is like that, total bazaar style. So go there instead of the big name malls where there are a lot of jewelery stores too.

For official gold rate this might help:

Exchange Rate - Dubai Gold rate, Dubai Gold price, Silver price, Dirham rate, Dollar rate, Indian Currency rate, Pakistani Rupee

Of course there are making charges and the jewelers own profit margins where they do bargain a lot.

 

[Hyde]

There won't be any sales tax obviously... There are no direct taxes here (tons of indirect ones but doesn't matter in your case).

I don't know websites, but I can tell you some big chain jewelery shops.

Damas
ARY Jewelers
Joy Allukas
Pure Gold
Chitillapilly (Is always filled with Indians buying gold in tons)

But the real deals are in the Gold Souk, Deira and Gold Souk, Sharjah.

The gold souk is like that, total bazaar style. So go there instead of the big name malls where there are a lot of jewelery stores too.

For official gold rate this might help:

Exchange Rate - Dubai Gold rate, Dubai Gold price, Silver price, Dirham rate, Dollar rate, Indian Currency rate, Pakistani Rupee

Of course there are making charges and the jewelers own profit margins where they do bargain a lot.

Thank You Asim,

I knew only you will reply to me with a lot of sense here

I just checked the prices of Gold bar and it matches 100% to open market rate. But when you go to shops they add 100-150 pounds extra (on 100 grams) if you are buying physically so I am sure that will be my savings as the taxes won't apply here.

I don't know websites, but I can tell you some big chain jewelery shops.

Damas
ARY Jewelers
Joy Allukas
Pure Gold
Chitillapilly (Is always filled with Indians buying gold in tons)

But the real deals are in the Gold Souk, Deira and Gold Souk, Sharjah.

hmm finally I have some name of jewelry shops.. so let me browse their websites. After reading ARY Jeweler's name I am thinking to give them a phone call tomorrow and hopefully they will be able to understand my language

Lets see if they can guide me further... and of course when I visit Dubai or Sharjah i will be going on cheaper locations to save my hard-earned money. The idea is to save money as the shopping my elders will be expecting to day is for 3-4 marriages meaning millions of rupees will be wasted all-together

 

[Comet]

I think the Gold prices from Dubai is of 22K and in Pakistan its of 24K. I think this is what makes the difference

 

[Hyde]

I think the Gold prices from Dubai is of 22K and in Pakistan its of 24K. I think this is what makes the difference

no it all depends upon the individual. If you buy 24k its more expensive and honestly speaking poor choice

if you buy 22k or between 18 - 22k you have a lot of selection in designs and the whole design lasts longer. It doesn't become soft after a couple of months like 24 carat gold.

I would say...one should buy between 18 and 21k gold and if you have money you can buy more.... don't opt for 24k unless you are buying a bar or coins

 

[Awesome]

Read this:

Buying gold in Dubai, Abu Dhabi and the UAE

Btw, this is the month to come and buy it... DSF is going on, so there might be some special promotions.

Btw, congrats on the Shaadi - engaged yet?

 

[Hyde]

Read this:

Buying gold in Dubai, Abu Dhabi and the UAE

Btw, this is the month to come and buy it... DSF is going on, so there might be some special promotions.

Btw, congrats on the Shaadi - engaged yet?

oh well i did read this article yesterday and this statement compelled me to create this thread for more information

Choice - The UAE is a large importer of gold offering a variety of designs from Indian style, to Arabic and modern Italian and European pieces. Tax free - There is no VAT on the gold in the UAE, which makes prices particularly cheap. You might find that prices are up to 40% cheaper than those in the west.

But after researching for couple of days I have noticed the prices do differ but not 40%... still i can save a lot of money by travelling to Dubai if we see the total amount of shopping we are supposed to do. I have made up my mind that I will soon travel Dubai (alone) and then looking at the markets, travelling around... will call my mother for shopping as i have 0 knowledge of Jewelry and wouldn't want to risk.

Thanks a lot Asim, you were very helpful

 

[Awesome]

oh well i did read this article yesterday and this statement compelled me to create this thread for more information



But after researching for couple of days I have noticed the prices do differ but not 40%... still i can save a lot of money by travelling to Dubai if we see the total amount of shopping we are supposed to do. I have made up my mind that I will soon travel Dubai (alone) and then looking at the markets, travelling around... will call my mother for shopping as i have 0 knowledge of Jewelry and wouldn't want to risk.

Thanks a lot Asim, you were very helpful

Normally shaadi prep (considering the shaadi is in Pakistan) is done in this way.

Diamonds - western countries
Gold - Dubai
Girls' clothes - Pakistan (Lahore)
Men's clothes - they'll wear anything...

Pakistan IMO is the cheapest for everything. Dhoondna aana chahiye. You can do a lot with less in Pakistan. Only Quality Assurance is not there if you don't know the ins and outs of the place.

Btw, you know in Emirates Palace (amazing hotel in Abu Dhabi) there is a wending machine that dishes out gold?

 

[Hyde]

Normally shaadi prep (considering the shaadi is in Pakistan) is done in this way.

Diamonds - western countries
Gold - Dubai
Girls' clothes - Pakistan (Lahore)
Men's clothes - they'll wear anything...

Pakistan IMO is the cheapest for everything. Dhoondna aana chahiye. You can do a lot with less in Pakistan. Only Quality Assurance is not there if you don't know the ins and outs of the place.

Very right! I myself prefer "saadgi" but see we have a large family and it is accustom to give Gold to your relatives during the wedding. I hate this culture of giving expensive gifts to your relatives even if you can't afford it but sadly it is like that.

I would have cared less if that was only for my sake or my elder brother. But there are couple of female relatives also going to get married soon. So for them we will have to purchase gold and I think it is always a wise idea to buy from the cheapest place possible. If I travel Dubai it wouldn't cost me anything - but if i can save 1000s of pounds... what else can be better than that.

and you know Gold is always a very safe investment... in 2009 my mom purchased Jewelry from Saudi Arabia and I was insisting her to not buy anything but now the prices has increased by 50%... so a lot of savings in that sense.

Btw, you know in Emirates Palace (amazing hotel in Abu Dhabi) there is a wending machine that dishes out gold?

wow - never heard that before... signs of overflow/excessiveness of gold in Dubai. But definitely it would be more expensive... so I am happy buying from local corner shop hehe

 

[joyrid]

if it was lower than u can simply be rich by buying there and selling here

 

[Hyde]

if it was lower than u can simply be rich by buying there and selling here

As far as I know there are many peoples who buy gold from Dubai and resell in Europe. But you are only going to see visible savings if you have good money in your hands... otherwise small amount like buying 100g gold won't work for them.

 

[Last Hope]

Sorry. No idea. Am gonna throw a visit in late March. Will tell you!
PS: If you wanna buy, ill do it for you

 

[Hyde]

Sorry. No idea. Am gonna throw a visit in late March. Will tell you!
PS: If you wanna buy, ill do it for you

do me a favor. Go any Jewelry shop near you in Saudi Arabia and do some window shopping over there.

Look at some bangles, necklaces and rings... look at the weight of bangles and the carat of gold. I think it would suffice my requirements..... and will give me a better idea about Dubai as well.

Go whenever you have time... after weeks or a month if you like... but just a brief info would be highly appreciable. Just a brief information

or if you know any website that is also very nice

Will make a phone call to ARY jewelry shop in Dubai and find try to speak in code words

 

[greatsequence]

Dubai is better than pakistan. The fraud is widespread and the quality is low. You will not get what you paid for so if you have chance dubai it from dubai even if the price is the same or higher.