Dubai is unquestionably a shopper’s heaven. Regarding fashion, fragrances, accessories, and jewellery, the city hosts some of the most well-known brands and designers. While Dubai’s dazzling malls are well-known worldwide, the city’s lively, ancient souks are as popular among residents and visitors. Hidden jewels and unique findings can be found in Dubai’s historic souks, often at incredible rates.
The Dubai Gold Souk is one such prominent souk, which also happens to be one of the world’s largest gold markets, with over 300 stores. Despite being a sharp contrast to the glamour and splendour of contemporary Dubai, it continues to draw hundreds of tourists. The superb craftsmanship of jewellers at the Dubai Gold Souk distinguishes this gold market from others. Some of these jewellers have been in business for many years.
As a result, tourists may expect to discover the largest assortment of gold and valuable gemstones here. Whether it’s a lovely addition to their regular jewellery or a special event, purchasing gold in Dubai is quite popular among ex-pats and visitors. Some of them visit the city, mostly to purchase gold. Some of the reasons to purchase gold in Dubai include the vast selection of options and lower pricing, regardless of VAT, and pure quality is included.
A Brief About Gold Souk Dubai
Dubai is known as the “City of Gold,” for a good reason. It is home to the world’s only specialised gold market, known colloquially as the Gold Souk. Dubai recognised the potential and, more significantly, the purity of gold in its economy very early on. In Dubai, gold is regarded as the purest and most dependable in all grades, including 24K, 22K, and 18K. Because of this, the Gold Souk became well-known.
The Dubai government provides frequent verification of the gold sold, and shops are required to preserve all metrological data for validation by the authorities. Gold Souk, situated in the Al Dhagaya district of Deira, is one of Dubai’s most famous tourist spots. This was the old city’s centre area during its formation in the early 1960s, and practically all commercial operations took place here.
It gradually grew highly popular with everyone, and gold dealers flocked to it. It grew to be the greatest gold trade hub in the Middle East and perhaps one of the largest in the world. To preserve its dominance in gold trading and marketing, the Dubai Gold and Jewelry Group publishes gold sales prices per London Metal Exchange in collaboration with Dubai Economic Development. This may be found at every store in Gold Souk.
The pricing homogeneity and tax-free shopping assure low retail prices for gold jewellery. Under Dubai Gold Souk, there are over 900 gold stores, all of which freely show a broad selection of gold jewellery, allowing everyone to see so much gold maintained in such minimal intrusive security. Tourists flock to buy gold jewellery because they know that gold is not offered in security-heavy and restricted entrance stores but rather openly.
History Of Gold Souk Dubai
The Gold Souk is located in the city’s commercial area, Deira. It is located north of Dubai’s seafood and vegetable markets and is accessible by both road and sea. Since its foundation in the early 1900s, the Souk has expanded at a breakneck pace. It grew from a few traders to its first significant boom during the 1940s and 1950s, when Dubai’s free trade policy opened the door for dealers from India and Iran.
The market has expanded and gentrified over the years, yet it has managed to preserve the beauty and feel of an Arabian souk. It’s believed that no less than ten tons of gold are dispersed throughout the sellers on any given day—a difficult-to-substantiate but harder-to-refute assertion.
When you enter the Souk, you’ll be guided through a maze of covered pathways that house over 300 gold retail outlets that largely deal in jewellery. Racks of gold decorations hang from window to window, creating a visual feast. Hundreds of merchants ensure you never run out of options with one-of-a-kind items and diamonds with gorgeous Arabic motifs that will leave you speechless.
Interesting Facts About Gold Souk Dubai
Dubai is famous for various things, but gold is among the most well-known. Here are some fascinating facts regarding the Dubai Gold Souk market.
The Gold Market Provides ATM Machines With Gold Bars
The gold market in Dubai has an ATM that pays varying carat gold – whether it is slabs, coins, or wearable diamonds. For example, if you require men’s 14-carat gold chains. You can simply obtain it using a machine.
All you have to do is select, choose, and pay with a debit or credit card. As a result, the gadget labelled the Gold to go and sent out whatever you wanted. Also, the machine is in the Dubai Mall, and the equipment has made such an effect that it must be reloaded twice a week.
The Biggest Gold Spice
Every day, the Dubai gold market sank over ten tons of gold. Locals and visitors should visit Dubai’s surrounding souks, where they may find the world’s cheapest gold jewellery.
Dubai Gold Souk comprises many covered back alleyways that branch out from a large patio. Apart from that, the neighbouring streets would be lined with businesses offering a plethora of gold frills.
Tourists Visit For Sightseeing
The trends you will encounter in the gold market from such gold businesses are lively and pure Arabic. These frills are carved in most common jewellery pieces, such as enormous neckbands, rings, earrings, wristbands, and bangles. Explorers visiting Dubai may sneak inside Gold Souk to learn about Emirati culture and customs. Furthermore, they resemble counterfeit jewellery pieces made of lacquer and sold in Hyderabad’s Choori Bazaar.
Gold Can Be Negotiated
It may surprise you, but gold can be negotiated on Dubai’s gold market. We used to interact with garments and other everyday stuff to achieve any astounding rate before hearing it. However, if you can haggle with the vendors, you may acquire gold at a reduced price, but only in Dubai. The sellers’ fierce competition would have prepared the souk for such a scenario. As a result, you could purchase them in a variety of packaging.
Unique Gold Accessories
There is no question that gold jewellery and other accessories have dominated the gold marketplace. However, in Dubai, weird objects may be seen and purchased at shops for sale. You may have yet to see belly dancing attire, elaborate head scarves, Kafiyahs for males, or sunglasses in gold shops. However, there may be separate back entrances for selling such items, which target travelling people to Dubai’s commercial sectors.
The Gold Market Produced The World’s Longest Chain
In 1999, Dubai’s gold market became well-known for yet another reason. In 1999, a jeweller at Gold Souk set a Guinness World Record by producing the world’s longest handcrafted golden chain. The Jewelers group created a 4.2 km long chain comprised of 22-carat gold. This chain was produced for the Dubai Shopping Festival. However, it was chopped short and transformed into necklaces and bracelets by its 9600 purchasers. This chain was designed by Siroya Jewelry, which AngloGold funded to create an incredible 238kg chain.
You May Go Window Shopping
Even if you don’t want to buy anything, you may stroll through one of the world’s largest gold marketplaces. It will undoubtedly be an unforgettable experience. You will have the opportunity to visit amazing stores on both sides of this magnificent maze, which may convince you to purchase a piece. Street vendors also sell gold and “genuine phoney” things such as Rado and Gucci watches.
Where Is Gold Souk Dubai Located?
Dubai Gold Souk is located in Gold Corner Complex, 3rd Floor, Gold Souq, Deira. It is located in the city’s main business centre and is freely reachable from all regions of Dubai. The market is situated on the bank of Dubai Creek, adjacent to the Dubai Spice Souk.
How To Reach Gold Souk Dubai
The Dubai Gold Souk is usually on everyone’s “Things to do.” There are several routes to the City of Souks. The best way to reach there is to board a boat ride from Dubai Museum, which will take twenty minutes to cross the canal. This is how the Emiratis travelled before the oil boom, which is still the case now. Many office workers, shoppers, and tourists may be seen travelling to Deira from Bur Dubai using the little wooden boats known as “bras.”
The Dubai government has launched “Water Taxi,” an air-conditioned abra with more comfortable seats. Many additional modes of transportation may be used to get to Dubai Gold Souk, including buses since one of the main bus terminals is situated here and is appropriately named “Gold Souk Bus Stand.” It is included in all city excursions and history tours offered by tour providers. On any given day, there could be more visitors than locals.
Best Time To Visit Gold Souk Dubai
While most businesses are independent and can operate and close whenever they choose, most establishments are open from 10 a.m. to 10 p.m. Most shops are closed from 1 to 4 p.m. The best time to go is about 11 a.m. It’s still packed, although less so than in the nights.
Is There Any Entry Fee For Gold Souk Dubai?
There are no entrance fees. Unless you want to buy gold in Dubai, visiting the gold market is free because there is no admission charge. However, there are a few more drawbacks to consider before embarking on this trip.
If you’re a woman travelling alone, males might be rather persistent when you visit their businesses, making you feel uneasy. Even if you’re travelling with someone else, the number of people trying to sell you their things might be overwhelming.
Another disadvantage of visiting the gold market on your own is that this part of Old Dubai cannot be completely understood until somebody points things out and informs you about its history. Otherwise, you may be dissatisfied with what you’ve seen and lost out on a lot throughout your visit.
Things To Explore In Gold Souk Dubai
The Gold Souk has an incredible selection of jewellery. There are lots of stores that sell jewellery with designs from all around the world. Among many smaller businesses, Malabar Diamonds and Gold, Bafleh Jewellery, and Joyalukkas are major jewellery stores in Dubai Gold Souk. From exquisite rings, delicate bracelets, and magnificent necklaces to lovely earrings, Dubai Gold Souk has something for every budget and style.
Another question customers have is, “Can I be certain of the quality of the merchandise available for purchase at Gold Souk Dubai?” The answer is emphatic yes! All items sold at the Gold Souk are controlled by the UAE government, ensuring the authenticity and quality of gold. Another important place to visit in Dubai is Dubai Festive Mall. It is home to numerous international and local retail stores, restaurants, cafes, and recreational attractions.
Tips On Shopping From Gold Souk Dubai
Dubai has one of the lowest gold prices (Dubai presently does not levy any taxes). Here are some helpful tips if you’re thinking about buying gold in the Dubai gold market:
- Every day, the price of gold swings. The same as in the stock market. Before purchasing gold, conduct research and check the pricing. Gold costs are frequently shown at the concierge desk in hotels, so ensure that you check that out.
- Shop around, take your time, and bargain. Most sellers understand English and can help you discover what you’re looking for. There are over 300 stores, so you may browse for the lowest pricing on the gold item that intrigues you. Because gold is traditionally sold by carat and weight, it is typically the craftsmanship that is negotiated. Most travellers discover that they may bargain up to 30% off the original price.
- Bargain some more with cash. The majority of vendors carry both cash and debit cards. If you prefer to avoid carrying large amounts of cash, utilise your card accordingly. You generally receive a better deal when you pay in cash.
- Determine the amount of gold karat. You must pick how much karat gold you prefer. A 24 Karat gold bar contains 100% pure gold. The greater the karat, the purer the gold, and the higher the price. There are also 22K and 18K options. Gold also comes in various hues depending on the other elements it is combined with.
- In Dubai, gold is real. Most eager customers are right to be concerned about the validity of the gold, but don’t worry since the government guarantees that the requirements and rules are fulfilled to ensure that only genuine gold is sold. Nonetheless, always buy from authorised dealers with shops.
Why Should You Visit Gold Souk Dubai?
The Gold Souk in Dubai is well-known for its massive collection of gold items in various styles worldwide. It is home to many gold stores, operating for over four decades. Some of the reasons to go to this historic site are listed below.
Gold Souk Dubai Offers The Most Affordable Prices
One crucial detail to remember about the gold at the Gold Souk is that it is Tax-Free, which implies it is cheaper than anywhere else because Dubai is tax-free. True, VAT is applied to the service prices; nevertheless, the VAT charged is far lower than local currencies worldwide. Another crucial point to note is that you can claim a VAT refund for any purchases made here quickly as a tourist in the Emirates.
Numerous Options And A Wide Range
The Gold Souk Dubai is home to over 300 fine jewellery shops that provide a diverse range of popular and emerging brands worldwide. It offers anything you desire; all you have to do is select from the vast array of options available. The Gold Souk has everything for you, from the most costly to the most economical brands.
You will observe that each product in the Gold Souk possesses its design style, which is precisely catered to by skilled artisans. You may visit as many stores as possible until you find the ideal gold jewellery piece. Don’t be afraid to get started and immerse yourself in the amazing options and exquisite designs they have to offer.
Purchasing Here Is Risk-Free
When you purchase things from Gold Souk merchants, you are in one of the safest areas in the UAE. Remember that the local police will subject every item of gold you purchase to rigorous inspection. As a result, the likelihood of you purchasing stolen gold is nil. It is vital to note that the UAE police always do an excellent job of keeping everyone safe. So, don’t be concerned; you’re all secure here.
100% Pure Gold
There is no need to be concerned about the quality of the gold at the Dubai Gold Souk. As previously stated, the UAE government uses a very tight and close monitoring mechanism for the gold sold at Gold Souk stores. As a result, you can be confident that every piece of gold you purchase from the souk has previously been subjected to a thorough investigation by police officers at each location. They ensure that the gold is as pure and of the highest grade as possible.
Retailers In Gold Souk Dubai?
The souk is home to about 380 merchants, most of whom are jewellers. Some stores are almost four decades old, while others are only a year old. The mall’s main goods are gold, platinum, diamonds, and occasionally silver. Some of the retailers are as follows:
- Joyalukkas Jewellery
- Malabar Gold & Diamonds
- Damas Jewellery
- Pure Gold Jewellers
- Kanz Jewels
- Jawhara Jewellers
- Taiba Jewellery
- Khushi Jewellers
Things You Should Know While Visiting (Rules And Regulations)
Dubai Gold Souk is a stock market which allows you to shop and wander about, so other than your intentions, other possessions, and our listing of Gold Souk Dubai tips, there aren’t many restrictions and regulations.
Some parts of Dubai are much more traditional and conservative than others, so you should consider what you wear in public. As a result, it is prudent to dress modestly. Wear lightweight and modest clothing, as the heat in Dubai may be oppressive at times.
Bring safe medium-sized to small bags to transport valuable stuff such as cell phones and wallets. Bring small bags that will make purchasing and wandering around the market difficult.
Nearby Attractions Gold Souk Dubai
The Gold Souk Dubai is widely recognised for its gold, diamonds, rare jewels, and unusual jewellery. It also has a reputation for elevated and retrofitting watches. In Gold Souk, one may also get the quality of his gold confirmed. The Gold Souk also contains a number of the largest fur stores in the city.
Just before Gold Souk, there is the Spice Souk, where you can get the greatest spices from all across Middle as well as Southeast Asia. These spices are readily available for purchase, both retail and wholesale. The spices have created a distinct fragrance in the air. Bring home the most exotic spices for cooking and medicinal purposes.
Also, there is a good spot to buy traditional fragrances, known as the Perfume Souk. Local oil-based Oudhs and scents are available in standard bottles. Many perfumers offer the wood out of which their scents are made. Perfumes last longer on you. Dubai Gold Souk also has a long history of how Indian, Iranian, and Pakistani jewellers arrived and settled here to create this company that complimented the local pearl business and built fraternal bonds amongst all these countries.
Contact Details Of Gold Souk Dubai
The phone number for Gold Souk Dubai is 04-2265461, the fax number is 04-2266109, and the address is Sikkat Al-Khail Road, Deira, Dubai. It is located in Dubai’s Medina district. Deira is another name for the commercial business district.
The Gold Souk Dubai is great for purchasing jewellery or simply appreciating the gleam of gold accessories. People from all over the world travel to Dubai to get the best gold prices. This gold market is made up of brilliant stores selling beautiful necklaces, bracelets, and watches made of valuable yellow metal. This oldest intriguing souk is worth seeing and terrifying if you want to see the genuine Dubai.
Frequently Asked Questions
- Is gold less expensive in Dubai Gold Souk?
Because the UAE has no import taxes on gold and relatively low taxes on jewellery, gold in Dubai is significantly cheaper than in other nations. The current gold rate determines its value.
- Where can I find gold souks in Dubai?
The Gold Souk is located in Deira, Old Dubai’s commercial area. It is closer to the Dubai Spice Souk as well as the Old Souk and can be reached by several modes of transportation.
- What are the timings for the gold souk in Dubai?
The Gold Souk Dubai is open from 9:30 a.m. to 9:30 p.m. On Fridays, however, the market starts at 4:00 p.m. following afternoon prayers and closes at 9:30 p.m. Keep in mind that evenings are typically significantly busier than mornings.
- Where is the gold souk in Dubai?
It’s in Al Ras Deira, adjacent to the Dubai Seafood and Vegetable Market.
- How do I get to the gold souk in Dubai?
To get to the Dubai Gold Souk, take public transportation such as the Dubai Metro, RTA buses, or taxis.
Content writer and social science researcher with 5 plus years of experience in research. He has published academic and non-academic articles on several online platforms covering wide-ranging subjects. He is also a tech enthusiast, bibliophile, and an avid fan of video games.