Gold rate today in Sharjah (AED)

Sharjah gold rate at a glance

The international price puts a gram of 24k gold in Sharjah at roughly 473.23 AED today, with 22k at about 433.81 AED. Per 10 grams, a common size for small bars and rate boards, that is about 4,732.27 AED for 24k. These are spot-based figures, before any tax, premium or making charge. Many Sharjah residents work in Dubai, so shoppers routinely compare the two; the gold rate is the same and the difference comes down to making charges and shop competition.

What moves the gold price in Sharjah

Everything on a Sharjah rate board starts from the same place: the dollar price of gold (about $4,007.9 an ounce today) converted at the USD/AED rate of 3.6725. The dirham has been pegged to the US dollar at 3.6725 since 1997, so the exchange-rate half of the equation barely moves. In practice the dirham gold price is the dollar price multiplied by a constant: when gold rises $40 an ounce in New York, the per-gram rate in the souk rises by almost exactly the same proportion within the hour.

The dollar price itself responds to US interest-rate expectations, the strength of the dollar, inflation data, central-bank buying and geopolitical risk. Our guide to what moves gold prices covers each in turn.

Premiums, making charges and tax in Sharjah

The shelf price in Sharjah is higher than the converted figure above. A shop adds 5% VAT on jewellery (investment bars of 99% purity or more are zero-rated), making charges and the shop's margin. On jewellery, making charges are charged per gram or as a fixed amount per piece, and usually open to negotiation, so two pieces of the same weight and purity can carry very different prices. Souk jewellery is mostly 22k and 21k, 18k is used for diamond-set and lighter Italian-style pieces, and 24k is sold as bars and coins.

Where gold is bought in Sharjah

The Central Souk, the blue-tiled market on Khalid Lagoon often called the Blue Souk, has a large cluster of gold and jewellery shops, and neighbourhood jewellers line the older commercial streets. When comparing shops, ask for the gold rate per gram, the purity, the making charge and the buy-back price separately; that is the only way to see which offer is really cheaper.

Buying seasons in Sharjah

The Watch and Jewellery Middle East Show at Expo Centre Sharjah, held twice a year, is a major retail event with promotions across the trade. Across the UAE, demand is strongest around the Dubai Shopping Festival in December and January, Eid, Diwali and Akshaya Tritiya for the large Indian community, and the autumn wedding season. Seasonal demand tends to show up in shop premiums, promotions and queues rather than in the international price, which is set by global flows. Knowing the calendar helps explain why a local quote can look expensive or cheap against this page in a given week.

Gold market hours in Sharjah

The international gold market trades almost around the clock on weekdays. In Sharjah the London–New York overlap, usually the busiest and most volatile part of the day, runs today from about 16:00–20:00 local time. The two LBMA Gold Price auctions in London, at 10:30 and 15:00 London time, fall at 13:30 and 18:00 in Sharjah, and major US data released at 08:30 New York time, such as payrolls and inflation, lands at 16:30 local time. The week's trading closes at 01:00 on Saturday and reopens at 03:00 on Monday, Sharjah time; over the weekend the price on this page is the last close. The Dubai Gold and Commodities Exchange lists gold futures, and the DMCC free zone is one of the busiest physical gold hubs in the world. Our gold market hours tool shows the sessions in any time zone.

Sharjah compared with Dubai

Sharjah and Dubai both price gold in AED off the same international price and the same exchange rate, so the converted figure is identical: about 473.23 AED per gram of 24k in both. Any difference at the counter comes from making charges, dealer premiums and how hard the shops compete.

How this AED gold price is calculated

Three numbers decide everything on this page. First, the international gold price in US dollars per troy ounce: $4,007.9 at the last update. Second, the exchange rate: 1 USD = 3.6725 AED. Third, the weight: one troy ounce is 31.1035 grams, and one tola is 11.6638 grams.

1. Price per gram in USD = $4,007.9 ÷ 31.1035 = $128.86.
2. Price per gram in AED = $128.86 × 3.6725 = 473.23 AED (24k, pure gold).
3. Price per 10 grams = 473.23 × 10 = 4,732.27 AED.
4. For a lower purity, multiply by the fineness: 22k = 0.9167, 21k = 0.875, 18k = 0.750.

The gold price comes from COMEX gold futures, which track spot XAUUSD closely but are not identical to it. The exchange rate is a mid-market rate; the rate your bank or money changer gives you will be slightly different. If you want to do the maths yourself, our guide to converting the gold price per gram, tola and kilo walks through every step with worked examples.

What this price does not include

The figures above are the international spot price converted into local currency. They are the starting point for every retail price in Sharjah, but they are not the price you will pay or receive at a shop. The retail or "jeweller" price adds some or all of these on top:

• Import duty or customs charges, where the country imports most of its gold.
• Sales tax, GST or VAT, which may apply to jewellery, to bars and coins, or to both, depending on local law.
• Dealer premium: the margin a bullion dealer or bank adds to the spot price for bars and coins, usually larger on small pieces.
• Making charges (labour) on jewellery, often a percentage of the gold value or a fixed amount per gram.
• Local supply and demand, which can push the physical price to a premium or a discount against the international price for weeks at a time.

When you sell, the buyer usually quotes below the spot-based number and deducts for purity testing, wear and sometimes stones. The gap between the buying and the selling price is the real cost of owning physical gold, and it varies a lot between shops, so it is worth asking several.

Frequently asked questions