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From karat checks to hidden charges — avoid common pitfalls in Dubai’s glittering gold markets

Whether you’re wandering the historic alleys of Deira Gold Souk or exploring luxury boutiques in Dubai Mall, buying gold in Dubai is more than just a purchase — it’s a blend of tradition, investment, and experience. But even in one of the most trusted gold markets in the world, asking the right questions is essential to avoid unnecessary costs or misunderstandings.

Here’s a simple, practical checklist of what to ask before handing over your dirhams:

Key Questions to Ask Before Paying

1. What’s the exact gold rate per gram today?
The market price of gold changes daily — make sure the store is quoting today’s rate, not yesterday’s. Reputable shops often display real-time prices prominently.

2. What karat is this item? Can I see the hallmark?
Purity matters. Ask whether it’s 18K, 21K, 22K, or 24K, and always check the hallmark for proof of authenticity and quality.

3. How much are the making charges?
This is the most variable and negotiable part of the price. A plain gold bangle may have lower making charges than a heavily ornamented necklace. Always ask for a breakdown.

4. Can I get a full receipt and certificate?
Insist on a printed invoice that mentions:

• Karat and weight

• Gold rate per gram

• Making charge

• VAT (5% in the UAE)
  Also, request a certificate of authenticity, especially if it’s for investment or resale purposes.

5. What’s your return or exchange policy?
Policies differ between shops. Ask:

• Can I return it within a week?

• Do you offer a buyback?

• What’s the resale value?

6. Are there any other fees or hidden charges?
Clarify whether there are:

• Polishing or packaging fees

• Credit card surcharges

• Cash discounts

No surprises at checkout.

Avoid These Common Gold Buying Mistakes

• Don’t fall for deals that seem too good to be true. Dubai’s gold prices are tightly regulated, so huge discounts usually mean compromised quality.

• Don’t try to negotiate the gold rate. It’s set globally. Only making charges are negotiable.

• Don’t rely on verbal promises. Always get written documentation.

• Don’t skip questions. A trustworthy seller will never hesitate to explain.

• Don’t forget customs rules back home. For example, Indian travellers have strict gold import limits, and exceeding them means paying high duties.

Final Word

Dubai is globally recognised for its transparent and fair gold trade. But like any significant purchase, knowledge is your best investment. Whether you're shopping for a family occasion, a fashion statement, or a long-term asset, ask, clarify, and verify — and you’ll walk away with not just glitter, but gold you can trust.

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