Dubai

Dubai Gold Souk

Gold Market

Gold has been an important business for Dubai since the 1940s. Today, the emirate is one of the world's largest gold markets, accounting for approximately 25% of world trade. The Dubai Gold Souk is a large indoor market, where dozens of shops are overflowing with all kinds of jewelry: from pearl earrings to gold necklaces.

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How not to get yourself a fake gold

Shop windows at the Dubai Gold Souk

No need to worry about fakes at the Gold Souk. The quality of gold and samples is regulated by the government of Dubai, so you can be sure of the authenticity of the jewelry you like.

Officially, there are no fakes on the market. However, you should check manufacturer certificates.

Some sellers may trick tourists by offering to go to the neighboring building through the courtyard to view the collection at a better price. In fact, it is not the territory of the Souk. In this place you can buy fake Swiss watches, jewelry and etc.

Gold Souk Prices

The value of the goods is determined by the weight of the gold product, based on the official daily international rate, and the artistic value of the item itself. Gold prices can be previewed on the Internet and taken into account when bidding.

Bargaining is mandatory

The selection of gold products is very large

All of the prices of goods take into account the upcoming bidding and are the main source of earnings for sellers.

Since the price of gold itself is fixed, it will not be possible to throw it off. However, the artistic value of an item can be discussed. If the seller calculates the value of gold at a higher rate, immediately say that you will buy only at the real one and name it. By doing so, you will show that you understand how their business works.

When buying several items, demand an additional discount. The same applies to cash payments — for cash payments, ask for a smaller price. This discount is based on the fact when paying by card, the seller pays a percentage for the transaction, so by paying in cash you compensate that expense.

If you don't have cash, don't worry, plastic cards are almost always accepted. The average discount that you can bargain about 25%. Take it into account when evaluating the value of items.

What you can buy on the Gold Souk

The main buyers in the market are Arabs and Indians. They prefer yellow (purer sorts of gold) and red shades (gold with copper) of gold with intricate patterns.

What to see

Golden ring 'Taiba Star'

The Kanz Jewellers jewelry store, just behind the main entrance from Old Baladia St., presents the largest and heaviest gold ring in the world, the 'Taiba Star', listed in the Guinness Book of Records.

The 21-carat ring weighing almost 64 kg is studded with diamonds and precious stones weighing at least 5kg. The estimated cost of the ring is 3 million USВ. It is not for sale, but you can buy smaller copies of it in any color of gold.

In addition to the incredible beauty of gold products that you can look at for hours, pay attention to the general vibe of the place: the touting of sellers, the emotions of the buyers. It is very exciting.

How to get to

You can get to the Dubai Gold Souk by metro at Al Ras station, by taxi or you can get by arba (traditional boat) to Deira Old Souk station.

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November 29, 2023

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