The prices of gold in Dubai on October 16, 2023 in the UAE Dirham or AED are given below.
Gold is a precious metal that has been valued for centuries.
It is known for its beauty, durability, and rarity. It is also used in a variety of industrial and technological applications.
The price of gold is determined by a number of factors including supply and demand, global economic conditions, and political instability.
Gold is often seen as a safe haven asset and investors may turn to it when other markets are volatile.
Dubai is one of the world's largest gold markets.
The city is known for its Gold Souk, which is a traditional market where the yellow metal is sold in a variety of forms, including jewellery, coins, and bars.
The price of gold in Dubai is generally lower than its price in other major markets, such as London and New York.
This is because Dubai is a tax-free zone, and there are no import duties on gold.
The price of 10 grams of gold of 24-Carat is 2317.5 AED (UAE Dirham).
The rate of 22-Carat of gold is 2147.5AED while it is 1780 for 18-Carat.
| Gold Unit | Gold Rate (1 gram) in AED |
|---|---|
| 24-Carat | 231.75 |
| 22-Carat | 214.75 |
| 18-Carat | 178.00 |
These rates are updated at the end of the business day.
Investing in gold
Gold can be a good investment for a number of reasons.
It is a safe haven asset, and can help to diversify your portfolio.
Gold is also a tangible asset which means that it has intrinsic value.
However, it is important to remember that precious metal is a volatile asset.
The price of gold can fluctuate wildly and there is no guarantee that the price of gold will go up in the future.
