Dubai attracts millions of visitors each year who come to shop for gold and diamond jewelry. The gold souqs in the Emirates are famous for their high-quality and diverse selection. Sales go up during wedding and festival seasons, thanks to Pakistani and Indian residents as well as tourists who make massive contributions to the purchases in this sector.
Dubai’s Gold Souk and shopping malls have thousands of gold and jewelry shops. Gold comes in three categories, 22K, 21K, and 18K, while gold bars are sold in 24K purity.
Charges Involved in Dubai’s Gold Jewelry
As reported by Khaleej Times, besides gold prices, jewelers also add making charges, which are usually fixed for smaller ornaments. For larger jewelry pieces, making charges are calculated per gram and can start as low as four percent.
Gold is considered a safe investment and the only lifestyle item that grows in value and can be easily sold when needed. Apart from looking at prices, there are other things to consider when buying gold.
Jewelers often run campaigns with zero deductions on old gold exchanges, free lifetime maintenance, cashback bank offers, and attractive benefits through gold savings schemes.
As quoted by Khaleej Times, Shamlal Ahamed, Managing Director for international operations at Malabar Gold & Diamonds, stated that buying gold from the Gulf Cooperation Council (GCC) region can save you around 12-15 percent compared to buying gold in South Asia.
Tips to Save Money on Gold Jewelry in Dubai
Here are some tips for buying gold and jewelry at lower prices:
- Bargain on making charges.
- Wait for gold prices to drop.
- Explore retailer schemes for better prices.
- Look for discounts and promotions.
- Ensure zero deduction on old gold exchange.
- Check certification, warranties, and after-sale service.
Joy Alukkas, Chairman of Joyalukkas Group, said that consumers in Dubai enjoy the world’s lowest gold prices because there is no import duty in the UAE and tourists get VAT refunds. So, buying gold in Dubai is always a good idea.
To buy jewelry for less, Alukkas suggested waiting for lower gold prices. Retailers also offer “buy now, pay later” options and long-term payment plans through credit card institutions.
If you are in a hurry to buy jewelry during peak gold prices, Joyalukkas offers a particular lowest price scheme. By paying the total value in advance, you can get the lowest gold price on the booking day or within the next 180 days.
Ramesh Kalyanaraman, Executive Director of Kalyan Jewellers, pointed out the discounts and promotions in Dubai during events like Dubai Summer Surprise and Dubai Shopping Festival. These are great times to purchase gold and diamond jewelry and get the best prices.
What to Look for When Buying Diamond Jewelry in Dubai
When buying diamond-studded jewelry, Kalyanaraman advised asking about the gemstones’ natural or synthetic origin, quality, certifications, and return or buyback policies. Similarly, Alukkas recommended knowing the day’s gold rate, making charges, carat, and fundamental technical aspects of the diamond.
To make a smart purchase, remember to ask about certifications, return and exchange policies, warranties, and after-sales services. Knowing these important details can help you make the best choice while shopping for jewelry.
Via Khaleej Times
