In Dubai, consumers benefit from the lowest prices for gold and diamond jewellery worldwide, thanks to zero import taxes and VAT refunds for tourists.
The city attracts millions of visitors who come to shop, particularly for gold and diamond jewellery, with the gold souqs offering a wide range of high-quality options. During wedding and festival seasons, sales surge as residents and tourists from South Asian backgrounds contribute significantly to the overall purchases in this sector. Gold is sold in three categories - 22K, 21K, and 18K - while gold bars are sold in 24K purity.
Jewellers also add making charges to the prices, with fixed charges for smaller ornaments and charges based on a per gram basis for larger jewellery, starting from as low as four percent.
Gold jewellery cheapest in Dubai?
Gold is considered a safe investment and a valuable item that can be easily sold when needed.
When purchasing gold, there are important factors to consider besides the price. Many jewellers offer special promotions like no deduction on old gold exchange, free maintenance, cashback offers from banks, and attractive benefits through gold savings schemes.
Buying gold in the GCC region, particularly in Dubai, can save around 12-15% compared to gold rates in India, thanks to no import taxes and VAT refunds for tourists. Therefore, it is advantageous to buy gold in Dubai due to its low prices.
Tips to buy gold and jewellery at lower prices
- Bargain on making charges
- Wait for gold prices to go drop
- Choose schemes offered by retailers for buying at the lowest prices
- Check out for discounts/promotions
- Ensure zero deduction on old gold exchange
- Ensure certification, warranties, after-sale service
How to buy jewellery cheaper?
A simple tip is to wait for the gold price to go down before buying. When the gold rate is low, shoppers don't need to worry too much about the price. There are also options like buy now, pay later schemes and attractive long-term payment plans from credit card companies to make shopping easier.
Joyalukkas offers a special lowest price scheme where customers can pay in advance and take advantage of the lowest gold price on the day of booking or within the next 180 days. Dubai also offers discounts and promotions on gold and diamond jewellery during events like the Dubai Summer Surprise and the Dubai Shopping Festival.
These sales are a great time to buy gold and get the most benefits. Additionally, there are exciting deals during festive seasons, which are considered auspicious for buying gold.
What to ask when buying gold-diamond jewellery
Ramesh Kalyanaraman, executive director, Kalyan Jewellers advised that when buying jewellery with diamonds, it's important to ask if the gemstones are natural or synthetic, check their quality and certifications, and understand the return or buyback policies. He also encouraged customers to inquire about certifications, return policies, warranties, and after-sales services. Alukkas suggested that shoppers should know the current gold rate, the making charges, and the carat of the diamond, as these are essential details to be aware of.
Also Read: A Guide to the Best Dubai Souks and Markets
News Source: Khaleej Times
