Are you aware of the trending audible on TikTok, which says, “You say that money cannot buy you happiness? Habibi, come to Dubai?” It sounds hilariously sinister, but on the other hand, if you enjoy gold, this audible is just right for you.
Hubby and I had a tour of one of the oldest places in Dubai, around Deira- Dubai Gold Souk, back in early 2021. We wanted to check the place, the community in general, and of course the golds. So, here’s my story and fair review!
About Dubai Gold Souk
Dubai Gold Souk is one of the world’s largest gold markets, located in Dubai, UAE. This sprawling bazaar of gold traders, diamond dealers, and jewelers is known as a souk. It loops through a series of covered galleries at the top but still feels like an open-air market. What is on offer is strictly regulated by the UAE government, ensuring authenticity.
What can you buy in Dubai Gold Souk?
Of course, the location’s name implies it—the precious metal gold. You will see various designs of gold jewelry ranging from 18 karats to 24 karats. There are also white and rose gold combinations. Earrings, toe rings, rings, necklaces, watches, pins, hairpins, bracelets, and even gold bars are available.
Aside from gold, there are some souvenir shops and items for sale. Hats, bags, clothing, glasses, memorabilia, and a variety of other things are available.
What you need to know when buying gold in Dubai Gold Souk
- Check current gold rates to get a sense of pricing—Dubai gold rates today. You can best negotiate with the salesperson if you know the rates. Also, the fact that Gold Souk allows buyers to haggle is a plus.
- There are three things to consider in prices: Gold price itself, Makers fee, and VAT 5%. However, for tourists, there are deals that they don’t charge for VAT. Simply show them your tourist VISA.
- In general, 24k, 22k, and 18k gold are available in Dubai. However, I prefer 22k gold for jewelry because it contains 92 percent gold and 8 percent other metal alloys such as silver, zinc, nickel, and allied, making the jewelry more sturdy and durable with a beautiful yellowish color.
- To avoid impulsive purchases, it is best to plan your budget and preferred carat of jewelry before going shopping.
- The Gold Souk is located in Dubai’s Deira neighborhood. The Gold Souk is open seven days a week from 10 a.m. to 10 p.m., except on Friday, when it does not open until 4 p.m. The souk is made up of open-sided galleries and booths, so keep that in mind if you go during the hot season: there is no or limited air conditioning. Al Ras is the nearest metro station.
- If you visit in a car, there’s an RTA paid car parking near Gold Souk. Click HERE to see the map.
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- On a personal note, I believe it is best to visit the Gold Souk in the mornings when there is natural light, and you can clearly see the designs and how the gold is crafted. When there are a lot of light reflections at night, it can be challenging to see. Also, because the location is quite old, it’s a little eerie to walk around, especially if you don’t have a private car. The alleys are as dark as dusk.
- There are street traders who may call your attention and invite you to look at their products. Refuse politely and proceed to your preferred shop. Malabar Gold and Diamonds and Dhakan Jewellers are two of my favorite stores. They have friendly and accommodating employees, and their brands have a high reputation in the industry.
- When bargaining, don’t be too stingy. When purchasing jewelry, it is not a good idea to get into a fight. The salesperson may feel bad about assisting you, and other customers may be bothered. If you can’t find the jewelry you want at a price you can afford, politely inquire about alternatives. There are numerous options available. Designs are beautifully crafted with your preferences in mind and within your price range. You can always visit other shops to see different options.
- The majority of the shops in Dubai Gold Souk accept both cash and debit or credit cards. However, if you want to get a better deal, pay in cash.
To Conclude: Dubai Gold Souk Review
Whether you enjoy gold as an investment or as a form of indulgence, the Dubai Gold Souk is an excellent place to look for and purchase gold and other precious metals for jewelry, especially if they are intended for loved ones or someone special to you.
Have you visited Dubai Gold Souk? What’s your experience? Tell us about it and comment below. We all love to hear from you!
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