Tips for Buying Gold in UAE
- Monitor gold rates in UAE for a few days (a week is a good amount of time) to check the fluctuation in prices, so you can buy the gold when the rates are at a low
- Decide on whether you want to buy gold as jewellery or as bars and coins as an investment, since there is no design selection involved in the latter
- If you want to buy unique pieces of gold jewellery, do some research on which stores have the kind of designs you want, their making charges, and quality and purity of gold
- Gold is priced on the rates for the day, the weight of the item, and the making charges, on which you can bargain to reduce the overall price
- Gold is a radiant precious metal that is most commonly used to make jewellery in South Asia, like earrings, rings, necklaces, chains, bangles, and other ornaments
- 24 carats is the purest, softest and most valuable form of gold, followed by 22 carats, 18 carats, 14 carats and 9 carats
- Gold may be alloyed with other metals such as silver, copper, zinc or silicon to produce purities less than 24 carat, which changes pricing of the end product
- The purity of the gold is marked onto gold jewellery by stamping or laser engraving, which is judged according to the standards set by the International Hallmarking Convention
- To test the purity of gold, the following methods can be used – Inductively Couple Plasma Spectrometry, X-Ray Fluorescence, Fire Assay, Touchstone, Electronic Pen and Density
