Gold Price Calculator UAE

1. Gold value = weight in grams x today’s rate per gram for the karat. Use the rate for the exact karat stamped on the piece (999, 916, 875, 750 or 585); each karat has its own published rate, so do not derive one karat from another.
2. Making charge = the shop’s charge per gram x weight. The calculator takes it in AED per gram.
3. VAT = 5% of gold value plus making charge, for jewellery. Switch VAT off for bars and coins of 99% purity or more, which are zero-rated.
4. Total = gold value + making charge + VAT.

The rate itself is on the gold rate today page and in the calculator’s karat buttons.

Take a 15 gram ring in 22K and, purely as an example, a making charge of AED 20 per gram. This is not a quote from any shop; real charges depend on the shop and the design.

1. Gold value: 15 g x today’s 22K gold rate = AED 6,502.50.
2. Making charge: 15 g x AED 20 = AED 300.
3. VAT on the gold: 5% of the gold value = AED 325.13 (the value of 0.75 g, which is 5% of 15 g).
4. VAT on the making charge: 5% of AED 300 = AED 15.
5. Total: AED 6,827.63 + AED 315.

The same ring in 18K would start from a gold value of AED 5,343.75; compare the 18K gold rate and the 21K gold rate if you are choosing between karats.

No authority publishes a standard making charge. Visit Abu Dhabi describes it as a charge for craftsmanship that varies with how intricate the piece is, and Visit Sharjah notes that the craftsmanship charge can be negotiated. A making charge can be quoted in three ways:

• Per gram: enter the figure as it is.
• Per piece: divide the amount by the weight. AED 450 on a 15 g piece is AED 30 per gram.
• As a percentage of the gold value: some shops call this “wastage”. Multiply the rate per gram by the percentage. For 22K at 10%, the per-gram figure is today’s rate x 0.10, which is AED 43.35 per gram.

To find what percentage a shop is charging, divide the making charge by the gold value and multiply by 100. Get the figure and the method in writing before you agree, and compare gold jewellery shops on the making charge, since the rate is the same everywhere.

• Tola: 1 tola = 11.6638 g. Choose tola as the unit, or multiply tola by 11.6638 to get grams. The tola gold price page lists 1 to 100 tola.
• Troy ounce: 1 ounce = 31.1035 g. Use it for coins and bars sold by the ounce; see the gold bar price page for common bar weights.
• VAT: jewellery carries the standard UAE rate of 5%. Investment gold, meaning metal of 99% purity or more in a form tradeable in global bullion markets, is zero-rated under Article 36 of the VAT Executive Regulation.
• Tourist refund: the calculator shows the price you pay at the till. According to the UAE government portal, tourists get back 85% of the VAT paid, after a fee of AED 4.80 per tax-free tag, on purchases of at least AED 250 validated within 90 days.
• Rounding: the calculator shows amounts to two decimal places. Weigh the piece in front of you and use the weight on the invoice; a difference of a few hundredths of a gram changes the total slightly.

The UAE’s General Authority of Islamic Affairs, Endowments and Zakat explains on its zakat calculation page that zakat on gold is 2.5% of the total value of gold that reaches the nisab of 85 grams and has been held for one Hijri year. It adds that saved gold, gold bars and gold coins are included, and that other purities are converted to their 24 karat equivalent.

1. Convert to 24K: grams x karat / 24. For 100 g of 22K: 100 x 22 / 24 = 91.67 g of 24K equivalent.
2. Compare with the nisab: 91.67 g is above 85 g, so zakat applies if the gold has been held for one Hijri year.
3. Value: at today’s 24K rate, 91.67 g is worth AED 42,900.02.
4. Zakat at 2.5%: AED 1,072.52 (the value of 2.2917 g, which is 2.5% of 91.67 g).

Today the nisab of 85 g of 24K is worth AED 39,780.00 at the DJG rate. The authority’s own calculator uses its own gold price, so its result can differ slightly. For questions such as jewellery that is worn every day, ask the authority directly.