Dubai Gold Souk or Gold Souk, is a traditional market in Dubai, UAE. The souk is located in Dubai’s commercial business district in Deira, in the locality of Al Dhagaya. The souk consists of over 380 retailers, most of whom are jewelry traders. Dubai is truly a shopper’s paradise. The city is home to some of the most popular brands and designers when it comes to fashion, perfumes, accessories and jewelry.
While the city’s glittering malls are famous worldwide, Dubai’s bustling, old souks are equally sought-after by residents and visitors. These old souks in Dubai are home to hidden gems and rare finds, often at unbeatable prices. One such popular souk is the Deira Gold Souk, which happens to be the largest gold market in the world with more than 300 shops. Here You can find Dubai gold souk timings below.
A stark contrast to the glitz and glamour of modern-day Dubai, it still attracts hundreds of tourists visiting Dubai. The exquisite craftsmanship of jewelers at the Deira Gold Souk makes this gold market unlike any other. Some of these jewelers in the Deira Gold Souk have been in the business for decades. Thus, visitors are guaranteed to find amongst the biggest selection of gold and precious gemstones here.
Dubai Gold Souk Timings
The Dubai Gold Souk Deira opening hours are 10:00 am to 10:00 pm. However, on Fridays, the market opens at 04:00 pm after afternoon prayers. Bear in mind that evenings are usually much more crowded than mornings.
Things To know Before Shopping At Dubai gold souk
- Before you head to the Gold Souk Market, check gold prices online. The gold price in Dubai follows international market rates and so can fluctuate daily. This means you can take advantage of when prices are lower to secure a good deal.
- Be prepared to haggle. While the gold rate is fixed, the making charges are negotiable, which refers to the charges applied for making of the piece. There is a lot of room between the price jewelers will quote and what they are willing to accept. Jewelers expect you to haggle and have price buffers when you do. This makes buying gold in Deira cheaper than the rest of the city.
- Gold in Dubai is sold as per the Karat and weight. The higher the Karat of gold is, the more you have to pay. A higher Karat indicates a higher purity of gold.
- If you want pure gold, you must buy 24 Karat gold, which is the most expensive. Since pure gold is soft, it is mixed with different metals to give it the finish needed.
- Plan your visit to the Gold Souk in Deira on an off day. Take your time and browse several shops before making a choice. There are many retailers who charge extra because of their prime location within the Deira gold market. So, try to explore the nooks and crannies to get a really sweet deal.
Gold Prices And Jewelry
The market price of gold is displayed on signs around the souk and in individual stores. Prices are listed for 24K, 22K, 21K, and 18K in AED per gram. The current gold rates in Dubai can be found here. Pieces are sold by weight according to the current market price, with an additional charge for workmanship (making charge).
Always barter on the price of anything you wish to purchase. Sellers will initially set a high price. The weight element of the price is non-negotiable but the making charge is. Significant reductions are possible. Similar items can be found in many of the stores so take your time to shop around. Credit cards are accepted, but better discounts can usually be obtained if you pay in cash. Dubai Gold souk prices is fluctuate daily, so you have to be updated daily by visit our Dubai gold price page which I updated on daily basic.
To be on the safe side ensure you purchase from the stores and not from street vendors. Strict regulations ensure items on sale in the stores are genuine and accurately described. Inspectors from Dubai Municipality carry out inspections of the shops here. Scales are checked for accuracy and samples of gold and jewelry are sent to a laboratory for testing.
A VAT charge of 5 percent is levied on jewelry sold here and throughout Dubai. However tourists can claim 85 percent of the VAT back at the airport under the Tax Refunds for Tourists Scheme. Goods must be purchased from a participating retailer (look for Tax Free stickers in shop windows) and shoppers will need to present a sales receipt with a tax refund tag.
How To Reach Dubai Gold Souk
If you plan to visit the Deira Gold Souk by Dubai Metro, then Al Ras Station is 10 minutes by walk from the Gold Souk in Deira. The Baniyas Square Station is also another metro station near the souk. When you’re at either of these metro stations you can ask from anyone for Gold Souk Deira directions. Most people know because it’s a popular location.
If you want to reach the Deira gold souk by RTA bus, then you have to take any of these buses C07, C09 and C28.
BY TAXI,UBER or CAREEM
IF you want to go Dubai gold souk by taxi.so you will easily find Dubai taxi for this location. Or you can book your taxi via uber or careem taxi services.
How Can The Purity Of Gold Be Determined In Dubai?
The purity of gold that is retailed in Dubai is ensured by the DCLD – Dubai Central Laboratories Department by awarding the retailer with a Bareeq Certification. The assessment procedure is as follows:
- Checking of retailers’ compliance with the federal and local rules and regulations.
- Checking the product quality and assurance.
- Checking the adequacy of the labeling on the jewelry.
- The inspector captures the findings.
The DCLD’s inspection is supplemented by the voluntary certification. Generally, the inspection by authorities takes place thrice a year. Certification is awarded to stores that follow fair and true practices for jewelry trading. There are many ways to check the purity for the gold bought, such as:
- Examine the Jewelry: When a reputable store sells jewelry, in most cases they stamp the pieces with its purity data. If the piece of jewelry is put under a magnifying glass the stamp can be identified for its purity.
- Look for Bareeq Certification: All the legit stores in Dubai have a Bareeq Certificate.
- Approach a Jeweler: If it is difficult to figure out the purity of the jewelry piece, it can be taken to a jewelry store for inspection.
How To Get a Low Gold Rate In Dubai?
- Know the Gold Rate in Dubai: The gold price in Dubai fluctuates daily. So it is only sensible to know how much it costs in the open market. Being aware of the market price helps in haggling with the vendors.
- Know the Types of Gold: It is important to be aware of the different Karats and weights of gold being sold in the market.
- Choose The Jewelry: Once the piece of jewelry is decided, its Karat and weight should be determined.
- Trying Bargaining: It is good to learn the art of bargaining by studying the Rate and Make.
- Browse Around: Before settling for any piece of jewelry, browse around.
Can Tourists Purchase Gold In Dubai?
Gold has been since forever a precious metal and people from all around the globe want to save and invest in gold. When it comes to purchasing gold, Dubai is a paradise for gold-buyers, it is also referred to as the ‘City of Gold’ because of the large amount of gold it handles. People prefer purchasing gold from Dubai because of attractive prices.
Tourists can purchase gold in Dubai. However, the amount of gold that can be purchased depends on the country the tourist is residing in. Everyone from all over the world is interested to see gold rate in Dubai . Each country has a set allowance on how much gold can be brought back, both weight-wise and cost-wise.