Gold prices in the UAE are updated three times daily, tracking the international spot price set in London and converting it to dirhams. Understanding this process helps buyers time their purchases.
How the Price Is Set
The UAE gold price starts with the London Bullion Market Association (LBMA) fix — a twice-daily benchmark in USD per troy ounce. Dubai jewellers then apply:
- Currency conversion: USD/AED at the current forex rate (approximately 3.67)
- Weight conversion: Troy ounce → grams (1 troy oz = 31.1g)
- Karat adjustment: 24K is pure gold; 22K is 91.67%; 21K is 87.5%
The Dubai Gold and Jewellery Group publishes the official daily rate used across all souks.
Morning, Afternoon, and Evening Updates
DailyRates captures three price slots per day to help you track intraday movements. The morning rate reflects overnight New York and early London trading. The afternoon and evening rates capture European and early US session moves.
Tips for Buyers
- Compare dates: Rates shift 1–3% weekly. Patience often beats rushing.
- Check the karat: Most jewellery sold in Dubai is 22K, not 24K.
- Making charges: The gold rate shown is for the metal only. Jewellers add 8–15% making charges.