A visit to the infamous gold markets of Dubai is one of the top things to do in this city. It’s an awe-inspiring place where everything from elaborate jewellery to impossibly heavy necklaces can be found.
What makes this market even more special is that it’s tax-free, making it a popular destination for tourists and investors.
The Gold Souk
A visit to Dubai’s Gold Souk (market) is a must for any visitor to this city. This labyrinth of covered walkways is lined with hundreds of jewellery stores that offer a staggering selection of gold pieces.
Unlike street vendors, the shops in this market have been strictly monitored by the Dubai government. This means that you can be certain that what you’re buying is genuine gold and not just silver.
But visiting this place can be a bit intense. It’s not for everyone – it takes some courage to dive into this environment and negotiate a deal with the merchants. Some people might even find it intimidating, but for those who are ready to take on this challenge, the experience is rewarding and can be quite satisfying. So, are you ready to enter this dazzling world? Take an abra from the Deira Old Souk Abra Station or take a taxi to the Al Ras Metro Station.
The Gold Market
The Gold Souk in Deira is a must-see for any visitor to Dubai. The shops are lined with gold from aisle to aisle, and haggling is a common practice. Many tourist bus tours (Book a Tour here) include a visit to the Gold Souk in their itineraries.
Aside from jewelry, the Gold Souk also offers bars, coins and other bullion products. There are many reputable brands to choose from including Damas, ARY jewellery, Prima Gold and Joy Allukkas. Some stores even offer semi-precious stones such as rubies, emeralds, sapphires and opals.
As with any commodity, gold is constantly on the move, and the prices rise and fall depending on a multitude of factors. What makes the UAE unique, however, is its willingness to accept ASGM (Artisanal and Small-scale Mining) gold from African producers—something that most other major gold hubs do not (or cannot). This policy is problematic and has helped fuel the country’s meteoric rise.
The Gold Souq in Deira
Dubai’s glitzy malls are famous the world over but the city also has a wealth of old, bustling souks where shoppers can experience a rich kaleidoscope of local culture while buying and selling. The Gold Souk in Deira is one of these souks and is considered the world’s largest gold market with over 300 retailers.
The narrow streets are filled with a variety of gold products from jewelry to coins and even furniture and a range of other precious metals like silver and copper. The discerning shoppers can be found amongst the locals and tourists from all over the globe.
Before visiting the Gold Souk it’s a good idea to keep up-to-date on current gold prices as these fluctuate daily and will determine how much you can barter for. You can find electronic signs posted that monitor these price fluctuations and will help you shop wisely. It’s also important to remember that you are required to declare your purchases upon leaving the country and pay any duty taxes.
The Gold Souq in Al Shindaga
If the Spice Souk left you wanting more, a stroll through the warren of narrow covered paths that make up the Gold Souk will be sure to satisfy your appetite for treasure. The city has enough stores and merchants here to support a small country, and there’s plenty of eye-catching jewelry on offer, including the world record holder for the longest handmade gold chain.
In the center of Dubai’s old commercial district, this market is crowded with over 300 retailers that trade almost exclusively in jewellery. This includes established stores like Damas, ARY Jewellery, and Shyam Jewellery.
Gold quality is closely regulated in the city, so shoppers can be confident that the items they buy are authentic. Street vendors, however, are not subject to the same regulations, so be wary of purchasing from a street vendor. Taxis are readily available throughout the city, and bus stops and abra stations are within walking distance of the Gold Souk. Dubai City of Gold