The Dubai Gold and Jewelry Group has published the rate for 14K gold for the first time this year, but the main question is whether residents of Dubai can actually find this type of gold in stores?

According to jewelers and traders, the answer is yes, but under specific conditions. Most gold and jewelry stores in Dubai do not have ready-made 14K gold in stock. Although 14K gold is usually not displayed in showcases, it can be custom-made, and this type of gold still does not have much popularity in Dubai.

18K gold remains the most popular choice among Dubai residents, followed by 22K gold. Only a few buyers show interest in 14K gold, and even in these cases, demand is limited.

Some residents only order it to see its appearance, and this product is still very new in the market. Most people who buy 14K gold use it purely for adornment, not as an investment.  Gold prices in Dubai is one of the reasons some buyers have turned to 14K gold. Sellers say people have started asking about 14K gold because gold prices are very high.

However, the important point is the cost of making, which buyers often overlook. 14K gold is harder than 18K and 22K, and making jewelry from it requires more effort and precision, so the manufacturing cost is slightly higher. 14K gold is only available in a limited number of stores and is usually custom-made primarily for tourists.

These stores mainly provide services to visitors and have not seen much demand from Dubai residents. Experts recommend that buyers ensure they are clear about their purchasing goals because 14K gold may be suitable for trendy jewelry, but it is still not recognized as an investment option in the local Dubai market.

Source: Gulf Times