Non-resident Indians (NRIs) and tourists in the UAE should opt for jewellery rather than coins when buying gold in the UAE, citing conversion costs and travel restrictions associated with carrying coins, according to top Dubai jewellers.

This comes as buyers stand to save between 12 per cent to 15 per cent compared with gold prices in India.

Anil Dhanak, managing director of Kanz Jewels, said buyers are generally better off purchasing jewellery directly rather than coins.

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“Tourists may face restrictions or practical difficulties in carrying gold coins, while NRIs who later wish to convert coins into jewellery incur additional making charges,” he said, adding that buying jewellery outright is “often the more convenient and cost-effective option.”

Depending on prevailing prices, taxes, and exchange rates, buyers can typically realise savings of approximately 12 to 15 per cent when purchasing gold jewellery in Dubai compared with many markets in India, Dhanak noted.

Shamlal Ahamed, managing director for international operations at Malabar Gold and Diamonds, echoed the sentiment, pointing to India’s rising import duties on gold as a key driver of the price gap.

Anil Dhanak (let) and Shamlal Ahamed

“Gold prices in the UAE can often be around 15 per cent lower than in India,” he said.

For investors, the difference can be even more pronounced, since the UAE does not levy value-added tax (VAT) on investment-grade gold such as certain 24K gold bars and bullion products. Tourists purchasing gold in the country can also claim VAT refunds, further boosting their savings.

In Dubai, gold prices of 24K, 22K, 21K and 18Kwere trading at Dh496.5, Dh459.75, Dh440.75 and Dh377.75 per gram, resepctively.

Both jewellers said the overwhelming majority of NRI buyers in Dubai purchase jewellery rather than coins, largely driven by personal use and family occasions.

Dhanak said wedding-related purchases account for a significant share of demand, alongside everyday personal use.

Ahamed said purchases are typically linked to “personal use, gifting, family celebrations, festive occasions, and, notably, weddings of children and close relatives,” noting that gold’s cultural significance in Indian households keeps jewellery the preferred choice.

Coins and bars, by contrast, are more commonly bought by those seeking an investment or wealth-preservation asset.

He added that consumer confidence is one of the UAE's biggest draws for gold buyers, as purity and quality are closely monitored and regulated by UAE authorities, offering transparency that reassures buyers.

Jewellers cautioned that buyers should stay updated on India’s customs allowances before travelling. Under provisions in India’s Union Budget effective from February 2026, women travellers can carry up to 40 grams of gold jewellery duty-free, while men are permitted up to 20 grams, subject to applicable conditions and customs regulations.

Dhanak said today’s buyers are generally well informed and have easy access to the latest regulations, but urged purchasers to verify current duty-free allowances and documentation requirements before travelling to ensure full compliance with customs rules.