Gold has long been a cherished asset and cultural symbol in Dubai, often referred to as the "City of Gold." The emirate's vibrant gold market attracts both locals and tourists,... moreGold has long been a cherished asset and cultural symbol in Dubai, often referred to as the "City of Gold." The emirate's vibrant gold market attracts both locals and tourists, making it a central hub for gold trading. Understanding the dynamics of gold rates in Dubai is essential for anyone looking to buy or invest in gold.Gold rates in Dubai are influenced by various factors, with the primary determinant being the international gold price. This price fluctuates based on global supply and demand, often quoted in U.S. dollars per ounce. As Dubai imports much of its gold, changes in international prices directly affect local retail rates. Another significant factor is local demand, especially during festive occasions like Eid and weddings, when gold purchases tend to surge. This increased demand can lead to temporary price hikes. Additionally, Dubai's tax-free environment makes gold purchases attractive compared to other countries, contributing to consistent demand.Gold is typically priced in U.S.... less