Dubai is referred to as the City of Gold and not without any reason. It has the world’s only dedicated Gold market, popularly called Gold Souk. From very early on, Dubai realized the potential of Gold and, more importantly, the purity of Gold in its economy. Gold in Dubai is considered the purest and more reliable in all the categories, like 24K, 22K, and 18K.
What is Gold Souk
The Gold Souk became famous because of this reason. The government of Dubai ensures regular verification of the Gold being sold, and retailers must keep all their metrological records for verification by the authorities.
Located in the Al Dhagaya area of Deira, Gold Souk is one of Dubai’s most popular tourist destinations. At its establishment in the early sixties, this was the central part of the old city, and almost all the commercial activities would happen here.
Slowly, it became very popular with everyone, and traders of Gold made a beeline. It became the largest Gold trading center in the entire Middle East and probably one of the world’s most enormous.
To further maintain its leadership in gold trading and retailing, the Dubai Gold and Jewelry Group, in association with Dubai Economic Development, publish Gold retail prices per London Metal Exchange. This is displayed in every shop in Gold Souk. The uniformity of price added with tax-free shopping ensures low retail prices of gold jewelry.
There are more than 900 gold shops in Dubai Gold Souk, and all display a wide variety of gold jewelry openly, for anyone to see so much Gold kept in such low invasive security. Tourists come in droves to buy Gold jewelry and know that Gold is not sold in security-heavy and restrictive entry shops but openly.
Tips on Buying from Gold Souq Dubai
When you buy Gold from Gold Souk, you must remember more than 400 outlets, and they all vie for your dollar. The designs are unlimited, and there is no need to rush. The purity is the same everywhere as it is controlled by ESMA (Emirates Authority for Standardization and Metrology).
Follow these steps;
- Decide what to buy
- Check the availability of designs.
- Ask the price. Usually, they would give you gold retail price plus making charges.
- Bargain and bargain. Be always ready to check in other shops. Don’t worry; there are plenty of shops before you give up.
- Once the deal is struck, ensure you complete the transaction by taking the purchase receipt.
- Ask for any particular deal/ gift/ raffle etc., and avail of the same.
- There is no tax for your Gold and diamond purchase, so smile and leave.
Attractions near Dubai Gold Souk
Gold Souk Dubai is famous for Gold and is well known for diamonds, precious gems, and exotic jewelry. It is also well known for high-end watches and retro-fitting of watches. One can also get his gold purity verified in Gold Souk. The Gold Souk also houses one of the largest stores for furs.
Before the Gold Souk, Spice Souk, where you would come across the best spices from all over middle and southeast Asia. These spices are available in retail as well as wholesale. There is a unique aroma in the air, thanks to the spices. Carry home the most exotic spices you can use for cooking and remedial purposes.
There is also an excellent place for buying traditional perfumes, the Perfume souk. You will find local oil-based Oudhs and fragrances in conventional bottles. Many perfumers sell the wood from which they make the perfumes. The perfumes stay longer on you.
Dubai Gold Souk also has some old history of how Indian, Pakistani, and Iranian jewelers came and settled here to start this business that complemented the local pearl business and thus forged brotherly relations amongst all these nationalities; the bond is still very apparent.
Activities in Dubai Gold Souk
- It would not be fair to say the Gold souk is only for buying gold. There is plenty of other activities that are going on. You may come here before the souk opens and take a nice walk around the creek. There is a lovely promenade to go and watch the gulls making a racket there.
- There are little traditional cafes where you can have breakfast or a meal. These cafes are everywhere. The local “Shwarma” and Sulaimani Tea (local tea without milk) are simply the best combos.
- There are plenty of souvenir shops and dry fruit shops by Iranian vendors. Pick up one of the camels with the “I love Dubai” line for gifting. There are hundreds of options there.
- Take a walk through the old souk made with traditional wood and, surprisingly, even in hot summer, it is never too hot here due to the design of these shops.
- If your wife is busy shopping, enjoy hundreds of nationalities passing by you, talking in their unique languages and dialects.
Souk Timings
The shop timings for the God Souk are 9.30 am to 9.30 from Sat to Thursday. On Fridays, the Gold timing starts at 4 pm.
How to get to Gold Souk
Dubai Gold Souk is generally a part of everybody’s list of “Things to do.” There are many ways to get to the Souk of Souks. The best way to get there is to take a water taxi from Dubai Museum and cross the channel in 20 minutes. This is how Dubai traveled before the Oil boom, and the tradition continues today. You may see many office goers, shoppers, and tourists going to Deira from Bur Dubai through the little wooden boats called “bra.”
The Dubai Government has introduced “Water Taxi,” an air-conditioned abra with better seats. Much other transportation means Dubai Gold souk can be reached, including buses, as one of the largest bus stations is located here and aptly called “Gold Souk Bus Stand.”
It is a part of all tour operators’ city and heritage tours. There would be more tourists on any given day than residents.