02 October, 2023
One Pavan Gold Rate in UAE & Dubai (INR – Indian Rupees)
The gold price in Dubai/UAE for 1 Pavan today is AED 1,732.00 and in Indian rupees INR ₹38,638.61
|Gram||22 Carat 916 Gold price today||24 Carat Gold price today|
|1 gram Gold Rate in UAE/Dubai||AED 216.50|
|1 Pavan Gold Rate in UAE/Dubai||AED 1,732.00|
|10 gram Gold Rate in UAE/Dubai||AED 2,165.00|
What is 1 Pavan?
1 Pavan means a sovereign, which is equivalent to 8 grams. Expatriates from India mainly use this name in the gold industry.
Gold Market in Dubai
Dubai has a historical and traditional market exclusively for trading gold. It is the Dubai Gold Souk, the most famous and visited place. In Arabic, Souk means market. The Dubai Gold Souk, situated in Deira, consists of more than 380 retailers. Platinum and diamonds are also traded here apart from gold. People are there in the business for quite long as four decades. Dubai Gold Souk is considered a tourist destination where people flock for buying gold at the best affordable price. It is estimated that around 10 tonnes of gold are present in the Souk at any given time.
Here, the LIVE retail Dubai gold rate is displayed by the government to promote transparency. The expatriates from South Asian countries are interested in buying 22-carat gold and the Europeans prefer buying 18-carat gold jewellery. 24 carats and 21 carats are also traded here. The price of gold jewellery comprises 2 things, the price of Gold plus the making charge apart from VAT. Still, the price is much cheaper than in other countries.
Dubai Gold Rate Source: Dubai Gold & Jewellery Group (DGJG)