Last Updated: February 17, 2023, 12:53 IST
Check gold costs in Dubai on February 17, 2023.
Dubai is thought for its gold market and has developed a fame for providing aggressive costs, which might be cheaper than different locations throughout the globe.
The worth of gold in Dubai slid within the morning buying and selling session on February 17.
This worth drop displays a world downturn within the worth of the dear metallic. On Friday, the value of 24-carat gold within the United Arab Emirates (UAE) fell by Arab Emirati Dirham (AED) 0.5 or Indian Rupees (INR) 11.26. This selection, thought of to be the purest of all sorts, traded at Dh 221.25 or Rs 4,986.01 per gram.
The worth of 22-carat gold was additionally down by Dh 0.5, buying and selling at Dh 204.75. Per at this time’s change price, this quantity to Rs 4,614.13 per gram.
According to information furnished by the Dubai Gold and Jewellery Group, the value of a gram of 21-carat gold was Dh 198.25 or Rs 4,467.67.
The 18-carat number of the bullion offered at Dh 170 per gram. This quantities to Rs 3,831.04. The worth of an oz. of gold, down by Dh 14.68 or Rs 330.81, traded at Dh 6,705.09– equal to Rs 1,51,098.53– within the morning buying and selling session on Friday.
Also Read:Â Gold Prices In India Plunge On February 17; Check Latest Rates In Delhi, Chennai And Other Cities
A kilogram of silver in Dubai price Dh 2535.81 or Rs 57,145.03.
Dubai is thought for its gold market and has developed a fame for providing aggressive costs, which might be cheaper than different locations throughout the globe.
One purpose for that is that the United Arab Emirates (UAE) has made the acquisition of gold bars tax-free and levied a low 5 % value-added tax (VAT) on different gadgets. Even this VAT cost is waived off for international passport holders.
Yet one other trigger behind the low costs is the price of labour in Dubai. This is relatively low in comparison with different nations, and thus drives down the making prices.
Alongside the value, the Dubai gold market additionally affords high quality assurance.
The outlets listed here are well-regulated and intently monitored. Buyers may also request to see the gold’s purity certificates, which supplies data on the gold’s purity and authenticity.
The extensive number of designs accessible in markets just like the Gold Souq, Baniya Street, and Meena Bazaar are one other pulling issue.
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