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Home > Categories > Business and Economy > Consumer > View Advice  

Query from: aalekya, DC, 01/14/07
Topic: CONSUMER      Submitted on:
Subject: where should i buy gold coin in USA or Dubai

Hi Amma,

I have to buy around 1000grms of 24kt gold so i want to know if its cheap to buy in USA (dc area) or Dubai,would appreciate if you can Pls advise me on this asap ,as i'm planing to go to india in 2 weeks from now.


Regards Smitha

Rate = 3 (Rated by 7 Council Members)
[ This query closed ]
Response from: Aditya Tibriwal,   
Registered Member on
Dubai would be cheaper. some tips for buying gold in dubai

Dubai is one of world's best places to buy gold--quality is controlled by the government (so you can be sure of what you're buying), you'll find unlimited designs to choose from if you're buying jewelry, and you can exchange your old gold jewelry for new.

The gold souk (market) in Deira has hundreds of shops selling gold and jewelry. The price of gold is predetermined--in every shop, the price set for the day by the government will be displayed. You can check this easily.

Make sure your receipt states the quality and weight of the gold--don't rely on what the salesman tells you.

If you're buying jewelry, the salesman usually taps a few buttons on his calculator to come up with a standard price, maybe even doing you "a favor" with a discounted price.

Ignore this--ask him to split the cost of the piece between the cost of the gold and the cost of the craftsmanship (both are calculated by weight, i.e. per gram). Both costs added together, multiplied by the weight of the gold, should be the total cost. I always ask for a pen, paper, and calculator, to check the math myself--this is normal in Dubai.

As I said, the price of gold is set, so your bargaining room is for the craftsmanship. The salesman will start off charging 7 to 10 dirhams per gram (the dirham is pegged to the U.S. dollar at a rate of $1 = 3.67 dirhams). With haggling, you can reduce this to between 2.5 and 6 dirhams per gram, depending on the level of craftsmanship--in rare cases, you will pay more for intricate work done by hand.

If you're selling your old gold jewelry, the dealer will pay you for the gold only--you get nothing for the craftsmanship. He will deduct 2 to 4 dirhams per gram from the official gold price as his margin. If you visit a few shops, and negotiate both buying and selling prices, the net difference can become quite marginal--you can transform your old jewelry into new jewelry for a steal.

Rate = 3 (Rated by 6 Council Members)

Response from: nagarajan ramanathan,   
Featured Member on
dubai is cheaper

Rate = 1.5 (Rated by 6 Council Members)

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Response from: Badshah .,   
Council Member on
Dear aalekya, For this go to sites below:……

Rate = 2 (Rated by 5 Council Members)

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Response from: Malleeswari GVN,   
Council Member on
Hi Alekhya,

As per my knowledge gold is cheep in dubai. I think you can pick some contact numbers of the shops and enquire in both the places.Normally people prefer to buy gold from dubai.

Rate = 2 (Rated by 6 Council Members)

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Response from: bujji phanikiran vanjarapu,   
Registered Member on
Dubai for sure... It is cheap and better

Rate = 1.5 (Rated by 8 Council Members)

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Response from: Ti Ti,   
Council Member on
Ti Ti recommends:

You Can Eradicate Poverty
See how you can get involved with SKS to empower the poor through micro-credit.

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Hi, You can buy gold in Dubai. Every year in the month of March they have shopping festival. Dubai Gold & Jewellery Group representing 700 members covering the entire gamut of Dubai‚Äôs gold and jewellery trade, has unveiled massive promotions for Dubai Shopping Festival 2006-2007. The special offers include winnings worth 45 kilogrammes of gold.You can get different designs of jewellery.…

Rate = 2.5 (Rated by 6 Council Members)
Response from: Manas Das,   
Registered Member on Home Jobs For Indians
Hi Smitha, Dubai is definitely cheaper. Regards

Rate = 1.5 (Rated by 7 Council Members)

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Response from: Keep Smiling .,   
Council Member on
Keep Smiling . recommends:

You Can Eradicate Poverty
See how you can get involved with SKS to empower the poor through micro-credit.

Want your ad here?
When compared to US, the prices of gold is cheaper at Dubai.It would be a best idea to buy gold at Dubai.

Rate = 1.5 (Rated by 7 Council Members)
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