Dubai, the city of gold has many gold markets and competitive prices always. If you want to buy or sell gold in Dubai, you might want to check the recent gold prices.
Knowing gold prices each month is important especially if you live in Dubai to better determine your monthly budget and expenses.
In this article, we will be walking you through Dubai Gold Prices for May 2024. Check the recent rates and some of the useful information we will be sharing!
Dubai Gold Prices for May 2024: Gold is Hitting High Records
Dubai gold prices for May 2024 has witnessed a slight jump. Check the new prices below in addition to some major information.
Dubai Gold Prices for May 2024: Price List
Gold Prices has been announced in Dubai for May 2024 as the following:
Ounce
Dh8558.39, compared to Dh8199.33 in April.
24 Carat
DH275.19 per gram, compared to DH263.52 in April.
22 Carat
DH253.17 per gram, compared to DH241.56 in April.
21 Carat
DH240.79 per gram, compared to DH230.58 in April.
18 Carat
DH206.39 per gram, compared to DH197.64 in April.
Gold prices in Dubai are determined by various elements like fluctuations local conditions, exchange rates, consumer demands, government rules, and gold prices globally.
Understanding the market and exercising caution is important if you want to buy and sell gold in Dubai. Monitor the trends and make sure you understand how to whole process works.
To understand gold types more, check the below:
- 24K: contains pure gold.
- 22K: contains 91.7% gold.
- 21K: contains 87.5% gold.
- 18K: contains 75% gold.
In 22K, 21K, and 18K, the rest is usually other metals.
Gold prices for May 2024 witnessed a rise in Dubai! It is worth mentioning that there is a 5% value added tax (VAT) applied to gold in UAE.
