How Does the Gold Price Calculator in the UAE Work?

[pitvil]

Hi everyone,

I’m trying to understand how gold price calculators in the UAE determine the current rates. I know that gold prices fluctuate daily based on international market rates, but I’m curious about the local calculation specifics.

How do factors like the type of gold (24K, 22K, 18K), making charges, and local taxes influence the final price shown in these calculators? Are there standard formulas used across jewelers, or does each shop have its own method?

Any detailed explanation or example of how a typical calculator works in the UAE would be really helpful. Thanks!

[moveci]

Hi! Gold price calculators in the UAE determine the price by starting with the current international gold rate, which changes daily. How does the gold price calculator in the UAE work? It then adjusts this rate based on the purity of the gold. 24K is priced at the full rate, 22K is slightly lower, and 18K even lower, proportionally to the purity. On top of that, jewelers add making charges for the craftsmanship, which can vary between shops, and any applicable fees or taxes. While the basic method is standard, the final price can differ slightly from one store to another because making charges and minor fees are not uniform.