How to Sell Gold in the UAE: Where to Sell and What You Get
Selling gold in the UAE is straightforward once you know how buyers price it. Every offer starts from the same number: the weight of gold in your piece times today’s rate for its karat. What changes from buyer to buyer is how much they take off. This guide covers where to sell, what gets deducted, what to bring and how to get the best offer.
What your gold is worth today
These are today’s metal rates. Any buyer’s offer for plain gold should sit a little below the rate for your karat.
| Karat | Today (gram) | Yesterday | Change | Tola | Ounce | Kg |
|---|---|---|---|---|---|---|
| 24K | 485.33 | 502.53 | ▼ 17.19 | 5,660.83 | 15,095.54 | 485,333 |
| 22K | 445.33 | 461.11 | ▼ 15.78 | 5,194.29 | 13,851.43 | 445,334 |
| 21K | 425.09 | 440.15 | ▼ 15.06 | 4,958.18 | 13,221.82 | 425,091 |
| 18K | 364.36 | 377.27 | ▼ 12.91 | 4,249.87 | 11,332.99 | 364,364 |
All prices in AED. Indicative reference rates from the international spot price at the fixed AED peg of 3.6725. Making charges and VAT are added by retailers.
The four numbers behind every offer
- Net gold weight. The weight in grams after stones, pearls and non gold parts are taken out.
- Karat. Confirmed by testing, not just the stamp. 22K is 91.6% gold, 21K is 87.5% and 18K is 75%.
- Today’s rate for that karat, from the table above.
- The buyer’s margin. The percentage the buyer keeps to cover testing, melting, refining and profit.
Put together: offer = net gold weight × today’s rate for the karat × (1 minus the buyer’s margin). For example, 20 g of 22K with a 5% margin is paid at 95% of twenty times today’s 22K rate. Try your own numbers in the scrap gold calculator.
Where to sell gold in the UAE
| Buyer | Best for | What to expect |
|---|---|---|
| The jeweller you bought from | Jewellery with its original invoice | Often the most straightforward offer, and usually better as an exchange for new pieces |
| Gold Souk traders | Any plain gold jewellery | Many buyers side by side, so several quotes take minutes |
| Bullion dealers | Bars and coins in good condition | Paid close to the day’s bullion price, with a small spread |
| Refiners and trade buyers | Large lots of scrap | Paid on assay after melting, mostly for trade sellers |
| Mall jewellery chains | Exchanging old gold for new | Buyback terms are often tied to buying something new |
| Cash for gold counters | Speed | Convenient, but compare their margin with a souk quote first |
In Dubai, the Deira Gold Souk is the easiest place to compare offers, because dozens of buyers sit within a few steps of each other. Every emirate has licensed jewellers who buy used gold.
What happens at the counter
- The buyer weighs the piece on a calibrated scale in front of you.
- They test the purity, usually with an XRF analyser that does not damage the piece. Some still use an acid or touchstone test, which leaves a small mark.
- They deduct stones and any parts that are not gold.
- They quote a rate per gram and a total.
- They check your ID and record the sale.
- They pay by cash, bank transfer or cheque, and give you a receipt.
Stay at the counter while your gold is weighed and tested. Ask to see the scale reading and the test result.
What buyers deduct, and what they should not
Fair deductions
- Stones and pearls. They are not gold, so their weight is removed or estimated.
- Lower karat parts. Solder, springs, clasps and fillings can bring down the effective purity.
- The buyer’s margin. For plain gold jewellery this is normally a few percent. Bars and coins attract a smaller spread.
Charges to question
- A separate melting loss on top of the margin for a simple piece. Ask what each deduction covers.
- A karat lower than the stamp without a test result to show it.
- A total offer with no weight or rate per gram. You cannot check a number you cannot break down.
One thing is never paid back: the making charge from the original purchase. That labour cost stays with the first sale, which is why resale is always below what you paid in the shop. More on this in our guide to used gold prices.
Documents and rules
- Emirates ID or passport. Gold dealers must identify their customers under UAE anti money laundering rules, so expect to show ID.
- Original invoice, if you have it. It proves the karat and weight and shows the gold is yours. Most buyers will still buy without it, after testing.
- Large cash sales. Dealers report cash transactions of AED 55,000 or more to the UAE Financial Intelligence Unit through its goAML system. It is routine compliance, not a problem for a genuine sale, and many sellers take a bank transfer for large amounts.
- VAT. Private individuals selling their own jewellery do not charge VAT on the sale. See our VAT on gold guide for how VAT applies to gold.
Visitors can sell too, using their passport.
Selling or exchanging?
If you plan to buy new jewellery anyway, an exchange can be worth more than a cash sale. Shops earn on the making charge of the new piece, so many offer a better rate on the old gold you trade in.
Compare the two properly: the price of the new piece minus the exchange value, against the cash offer for your old gold plus the price of the new piece bought separately. The smaller total wins. Check the making charge on the new piece with the making charge calculator before you agree.
Selling bars and coins
- Bullion dealers buy back bars and coins at a small spread below their selling price, much tighter than for jewellery.
- Bars from well known refiners, still sealed in their assay card, are the easiest to sell and fetch the best price.
- The 10 tola TT bar is one of the most traded sizes in the UAE, so it sells quickly.
- Damaged packaging or an unknown refiner can mean an assay test and a lower offer.
Today’s bar and coin prices are on our gold bar price and gold coin price pages.
Does timing matter?
The gold rate moves every day, so the same piece is worth more on a strong day. The gold price chart shows how far the rate has moved over the past month and year.
Waiting for a peak rarely beats getting a better margin, though. A buyer who takes 3% instead of 8% adds as much as a 5% rise in the gold price.
Checklist before you go
- Note today’s rate for your karat from this page.
- Weigh your pieces at home if you can, and separate gem set items from plain gold.
- Bring your Emirates ID or passport and any invoices or certificates.
- Get at least three quotes, each as a rate per gram.
- Ask for a receipt showing weight, karat, rate and total.
Mistakes that cost sellers money
- Accepting the first offer without comparing.
- Letting the piece be weighed or tested out of sight.
- Selling a valuable gem set piece for its gold weight alone. Good diamonds may be worth more sold as jewellery.
- Throwing away invoices and certificates, which support a better price.
- Selling in a rush when a day spent comparing would pay more.
Frequently asked questions
How much will I get for my gold in the UAE?
The net gold weight times today’s rate for its karat, less the buyer’s margin. For plain jewellery, a fair offer is usually a few percent below the metal value in the table above.
Can I sell gold without a receipt in the UAE?
Yes. Most licensed buyers will test the gold and buy it without the original invoice, but you will need to show ID.
Do I need my Emirates ID to sell gold?
You need valid ID. Residents usually show their Emirates ID, and visitors their passport.
Where is the best place to sell gold in Dubai?
For jewellery, the Deira Gold Souk makes it easy to compare several offers quickly. For bars and coins, a bullion dealer usually pays closest to the market price.
Do I get the making charge back when I sell?
No. Buyers pay for the gold content only. The making charge from the original purchase is not returned.
Is there tax when I sell my gold in the UAE?
A private individual selling personal jewellery does not charge VAT on the sale.