Gold Rate in Dubai Today

Dubai is known for selling one of the most purest gold in the world. With a fragile economy, where stocks and other traditional investments are seldom constant, the gold rate in Dubai is one of the commodities that is more stable. For precious metals investors, gold represents one of the most reliable and time-tested means of investing and protecting financial resources.

Gold prices in Dubai can change on an hourly basis due to heavy trading. The city and emirate both import unimaginable amounts of goldfrom India, resulting in low prices for foreign investors who then export the metal elsewhere. This is reflected in a constantly changing gold rate hour by hour, day by day.

Due to foreign investors using Forex for gold investment, the industry is highly lucrative. Safe to say that traders are constantly on their toes, remaining ever apprised of where the price is at all times. Forex is risky to begin with, but it’s multiplied with Dubai gold because the price moves so quickly.

The biggest factor influencing the gold rate is demand for jewellery, which consumes two thirds of the annual gold production in Dubai. The excitement of a gold trading professional can be compared to that of a professional cyclist, you never know what obstacles might hit you next. Those ups and downs of the daily market bring with them exhilarating highs and devastating lows. It’s two sides of the same coin.

For a first time investor looking to break into the world of finance gold rate information can sometimes be deceiving. It is imperative that research is well done before taking the plunge. While gold prices have steadily increased over the last several decades, they have been trending lower in Dubai recently. Analysts attribute much of that decline to slumping sales in gold jewelry over the last few months. However, keeping in mind that this can change overnight.

The good news is that the annual Dubai Shopping Festival is just a couple of months away, and sees high volume of gold dales every year. Jewelers should be increasing their gold inventories for both straight sales and jewelry production. We should see the gold rate begin a gradual climb through the end of the year for that reason.