Dubai is renowned as the "Golden City" for various reasons, as Dubai has a whole souk specializing in selling gold. Additionally, buying gold in Dubai has always been preferred, particularly among expats and visitors. Have you ever wondered why the Emirates is so popular for obtaining this precious metal? There are numerous reasons to purchase gold in Dubai. 

Five reasons why you should buy gold in Dubai

Dubai has a lot to offer when it comes to gold jewellery, whether you're searching for something simple for everyday wear or something more lavish. Apart from that, here are five reasons why gold is so popular in Dubai.

1-The Gold in Dubai is Pure

Before buying gold, always ask for the gold purity hallmark. However, while buying gold in Dubai, you won't have to worry about the purity or quality of the jewellery. The government regulates all jewellery sold by jewellers, ensuring the genuineness of each gold item sold in Dubai. It is also required that all jewellery retailers in the city have a gold purity hallmark.

2. Gold is cheaper in Dubai

In Dubai, you can get the greatest gold prices. Dubai has been preferred due to its tax-free status. It is one of the primary reasons why people choose to come to the city and purchase gold. Buyers in Dubai used to pay just the value of the gold jewellery, as Dubai emirate had a tax exemption policy that resulted in lower gold prices compared to other areas in the world. Despite introducing the Value Added Tax (VAT) in 2018, which imposes a 5% tax on all purchases, buying gold in Dubai is still far less expensive than in other nations. In addition, visitors in the UAE can claim VAT refunds on all purchases made in the country.

In Dubai, the only tax on gold purchases is the value-added tax (VAT). However, in other countries, such as India, there are additional taxes like the goods and services tax (GST) and excise duty that is applied when purchasing gold jewellery, making it more expensive.

3. You have more options

Dubai is recognized for being a shopping paradise, not only for clothes and electronics but also for gold. If you want to buy gold in Dubai, you can visit one of the city's popular gold stores, such as Al Romaizan; you will find a fantastic assortment of jewellery, including designs from all around the world.

4. In Dubai, gold prices follow international market rates

Another factor that makes buying gold in Dubai a pleasant experience is that gold prices are competitive. The reason behind this is the fact that the Dubai gold rate is based on international gold pricing. As a result, all gold prices are the same across all shops in the city. Furthermore, because international gold prices vary in the same way that stock market prices do, gold buyers in Dubai can reap the benefits of falling prices and buy gold at the lowest possible price. Therefore, always check the current gold rate in Dubai before making a purchase.

5- Go ahead and use your Bargaining Talents!

Another factor contributing to the affordability of gold in Dubai is the possibility of negotiating the price of creating charges, which are fees charged for creating the ornament. Making costs differ based on the type of gold jewellery purchased and the merchant from where it was purchased. While bargaining in larger jewellery stores in the mall can be difficult, you won't have the same problem in the Dubai Gold Souk. You can reduce the making costs by a large amount based on the gold price in Dubai and the amount you are buying.