GIG-OS ENGLISH: Who buys gold in Dubai open air markets?

Who buys gold in Dubai open air markets?

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Who do you think is the top gold buyer in Dubai open air markets, also called souqs? Tourists? Buyers from the Emirates? Magnates of gold?

None of the mentioned ones are the main buyers. Read the article and find out who and why buys the largest amount of gold jewelry in Dubai markets!

According to the information of the Dubai Gold and Jewellery Group (DGJG) and the merchants working in the Dubai souqs, the major gold jewelry buyers are Indians.

Interestingly, they prefer one particular kind of gold, which is 22kt gold, and not 24 kt. Indians are famous for their love for gold and specially golden jewelry, therefore gold cannot be that pure and needs admixtures to ensure the strength and durability of jewelry.

The yellow metal is present in almost every scenario of the average Indian daily life, not just as jewellery, but also as investment and decorative element for houses and temples. Additionally, the precious metal becomes especially popular in times of festivals and religious celebrations.

However, there is also a pragmatic reason for buying this metal in the souqs of Dubai, namely, the Indian tax policy, in contrast with the tax-free golden items in the Emirates. Dubai is inhabited by people of various nationalities and cultural backgrounds. Therefore, its markets offer a variety of goods to suit every taste.

If you are interested in gold as a tool to ensure your financial stability and increase capital, then you should buy investment gold bars of the highest quality and fineness in the Global InterGold Online Gold Shop. Create your own personal gold reserve and increase your net worth!

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