Dubai(UAE) is majorly known for its great infrastructure, massive skyscrapers, and classic architecture along with the perfect off-beat tourist destination. The city has a long history of trade and commerce, which is reflected in its diverse population and cosmopolitan character.
Additionally to all these great things, UAE is also known for its massive trade of Gold & Silver, both for consumers & investors. Consumers & investors get the best price as compared to the international market, and if you are into bullion investment you get the best place to expand your portfolio.
Here in this article, we are going to discuss why Dubai is famous for gold amongst the other international market few other benefits.
- Purity – which matters the most.
Firstly purity, which matters the most to consumers while having their important purchase of precious metal. A large number of tourists who visit Dubai at least buy 1 product of gold & silver in order to get the finest quality & purity of it.
History of the Indian subcontinent, carrying special place for gold don’t buy gold only for jewellery purposes. But also for investment & saving purposes for uncertainty such as inflation or to diversify their investment portfolio.
There is a belief among Indians that gold brings good fortune and fortune. Gold is also associated with the sun and is believed to have the power to ward off evil. Purity is one of a reason why people buy gold from Dubai.
- Price – An important factor
For any consumer price is one of the most important factors which affects & influences their buying decision, not only in gold but also for other products.
UAE is a great place to buy gold because there is no import duty applicable, making it cheaper than in other parts of the world. However, one important thing to remember is that there is only a 5% VAT applicable on gold jewellery. The good news is that this VAT can be reclaimed at the airport, which contributes to the popularity of the gold trade in Dubai.
- Range – Wide variety of options
Without any doubt the vast array of gold designs and jewellery available in Dubai is unrivalled. The iconic gold shops & showrooms of Dubai offer an incredible variety of designs, showcasing the skill of the city’s craftsmen. The gold shops feature gold jewellery from all over the world, making them truly special & unique to the customers.
With zero import duty on gold, low prices, and high purity, there is no doubt that Dubai is the perfect place for gold lovers and collectors to explore and purchase gold.
- International Costs
If you’re visiting Dubai, you might be wondering about the pricing and taxation of gold. First of all, there is no import duty on gold purchases in Dubai. Secondly, the gold market in Dubai is based on international prices, which makes it much cheaper than in other countries and jurisdictions.
One of the benefits of international gold jewellery pricing is that it’s uniform all over the world. This makes it easy to know how much you’re going to pay for your jewellery, no matter where you are. Dubai’s gold rate is highly dynamic, just like stocks in the stock market.
This means that interested buyers can time the market and purchase gold when prices are low. By doing this, they can save money and get more for their money.
- Negotiating making charges
Most people believe that gold and bargaining are two completely unrelated entities, but this couldn’t be further from the truth regarding Dubai. While there is no scope for bargaining over the price of gold, customers can negotiate when it comes to making charges.
The price of a particular gold item in Dubai/UAE includes not only the amount of gold but also the cost of craftsmanship. When it comes to making charges, there is always some room for bargaining. These charges usually make up 30-50% of the total price of an ornament, so if you’re lucky, you might be able to get a heavy discount on them.
Keep in mind that due to the wide variety and never-ending demand for jewellery, customers can always bargain over the making charges. So if you’re lucky, you might be able to save a lot of money in the end.
In the end.
Summing up all the above points, the incredible country offers numerous benefits to those who want to buy gold from Dubai. Make sure to visit the famous gold souks while you are in Dubai(UAE). Even for investment purposes, the country is pretty liberal with taxation & other policies.
According to our research, we have found Ashoka Global one of the most reputed bullion in Dubai. From here you can buy gold bullion & also buying gold online from Dubai is also one of the best options an investor can go for.