Gold Trade in Dubai

Where the trade actually happens

Four places do most of the work, and they are not interchangeable: one is retail, one is regulatory, one is an exchange, and one is brand new.

The refining side is real too

Al Etihad Gold holds UAEGD accreditation, one of the refiners behind the bars that move through these venues. Confirm any specific refiner's current accreditation before you rely on a name: accreditation status changes.

Tax position, declaration and who is actually licensed

Dealer licensing splits three ways: DET issues mainland licences, DMCC covers the free zone, and the Ministry of Economy's AML Department together with the Central Bank supervise compliance across both. UAE VAT runs at 5%, but investment-grade bullion of 99% purity or higher, in bar, ingot or coin form, is zero-rated, and Cabinet Decision 127 of 2024 extends a reverse-charge mechanism to registered B2B traders on top of that. Jewellery and anything under 99% purity carries the full 5% on the invoice. There is no capital gains or income tax on an individual's gold profits, and tourists can reclaim VAT paid on jewellery through the Tax Refund for Tourists Scheme when they leave.

• Investment bullion, 99%+ purity, bar or coin: zero-rated VAT
• Jewellery or sub-99% gold: standard 5% VAT on the invoice
• No capital gains or income tax on personal gold profits
• Cash plus precious metals and stones over AED 60,000 combined, in or out: declare to ICP or Dubai Customs (Federal Decree-Law 10 of 2025)
• Every dealer registers as a Dealer in Precious Metals and Stones on goAML; trades of AED 55,000 or more trigger a mandatory DPMS report (Cabinet Resolution 134 of 2025)

Discretion is not anonymity

Private, appointment-based service is a genuine, established norm among Dubai's bullion houses. It means a quiet room instead of a shop queue, not skipping paperwork. ID and proof of ownership are a legal requirement on every trade, and any dealer who suggests otherwise is one to avoid. How to verify a gold bar is real covers the checks worth doing before you pay for anything, wherever you buy it.

What actually trades here

Four formats account for most of what crosses the counter in Dubai, each for a different reason.

• 1kg gold bars: the wholesale format now settling same-day on DGCX, and the standard institutional and family-office size across all three hubs we cover
• Krugerrands: the most recognized coin among older private holdings across the Gulf, with a deep resale market here
• Gold sovereigns: Empire-era trade routes carried these into Gulf family holdings, and they still surface constantly on the buyback side
• Gold jewellery and scrap: the core sell-inherited-gold line in Dubai, priced on melt content once karat and stones are accounted for

Where inheritances get complicated

Old sovereigns and coins in Gulf family holdings often carry value above melt, and that is exactly what our guide to selling inherited gold in Dubai walks through: probate paperwork, how valuation actually works, and where to get a fair quote.