Who Sets The UAE Gold Price
Gold is traded the world over, predominantly in every major financial centre including New York, Sydney, Hong Kong, Tokyo, Mumbai, Dubai, Chicago, Geneva and London, to name a few.
The Dubai gold price, including the UAE gold price, is provided by the Dubai Gold & Jewellery Group and is based upon the London Gold Market Fixing. This is the most renowned and most strictly followed of all the trading centres for gold. The LBMA, consisting of five members Scotia-Mocatta, Barclays Capital, Deutsche Bank, HSBC and Societe Generale fix the price of gold every morning and afternoon at the opening and closing of that trading day.
The Gold price is fixed in three major currencies: US Dollars (USD), British Pounds (GBP) and Euros (EUR).
The price of gold on our site is shown in AED, the gold rate is based on the USD equivalent from the London Gold Market fix.