Tuesday, 02 January 2024 12:17 GMT

Is 14K Gold Available In Dubai Jewellery Stores? What Buyers Should Know


(MENAFN- Khaleej Times)

When Dubai officially revealed the price of 14-karat gold for the first time, for many residents, the next question came naturally: can you actually buy 14K gold jewellery in shops across the city?

According to jewellers and traders, the answer is yes - but with conditions.

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Most jewellery stores in Dubai do not keep ready-made 14K gold jewellery in stock. Asim Damudi, owner of Gold and Gems Gallery, said that while 14K jewellery is not commonly displayed in stores, it can be made on request. He also added that 14K gold is still not widely preferred in Dubai. According to jewellers, 18K gold remains the most popular choice among Dubai residents, followed by 22K. Damudi said only some shoppers show interest in 14K jewellery, and even then, the demand is limited.

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“A few residents order it just to see how it looks. It is still very new in the market,” he said. "Most people opting for 14K do so purely for ornamental purposes - not as an investment."

Suresh from Zaiba Jewellers said rising gold prices are one reason some buyers are looking at 14K.“People have started asking about 14K because gold prices are very high,” he said.

However, he pointed out an important factor buyers often overlook - the making charges.“14K gold is harder than 18K or 22K. It requires more effort and precision to make jewellery, so the making charges are slightly higher," said Suresh. As a result, when customers calculate the final price of a 14K jewellery piece, it often comes close to the cost of 18K jewellery, reducing the expected savings.

Affan Sada, a gold trader at Gold Souk Dubai, said 14K jewellery is available only at a few stores and is usually custom-made, mainly for tourists.“These shops cater more to visitors. We haven't seen many residents asking for it,” he said.

Despite the pricing, traders said that 18K and 22K gold continue to be more in demand in Dubai. Experts advise that buyers are clear about the purpose of purchase. While 14K may work for fashion jewellery or occasional wear, it is not widely viewed as an investment option in the local market, at least for now.

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Khaleej Times

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